AQR Capital Management LLC reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 28.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,974 shares of the medical equipment provider’s stock after selling 6,660 shares during the period. AQR Capital Management LLC’s holdings in Zimmer Biomet Holdings were worth $2,073,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Zimmer Biomet Holdings by 4,042.4% in the first quarter. BlackRock Inc. now owns 16,740,383 shares of the medical equipment provider’s stock valued at $2,044,168,000 after buying an additional 16,336,262 shares during the period. Vanguard Group Inc. increased its stake in Zimmer Biomet Holdings by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,041,411 shares of the medical equipment provider’s stock valued at $1,592,488,000 after buying an additional 464,916 shares during the period. State Street Corp increased its stake in Zimmer Biomet Holdings by 2.4% in the first quarter. State Street Corp now owns 8,193,165 shares of the medical equipment provider’s stock valued at $1,000,463,000 after buying an additional 191,747 shares during the period. Nordea Investment Management AB increased its stake in Zimmer Biomet Holdings by 25.0% in the first quarter. Nordea Investment Management AB now owns 4,931,281 shares of the medical equipment provider’s stock valued at $602,159,000 after buying an additional 987,398 shares during the period. Finally, First Manhattan Co. boosted its position in shares of Zimmer Biomet Holdings by 13.5% in the first quarter. First Manhattan Co. now owns 2,565,370 shares of the medical equipment provider’s stock valued at $333,549,000 after buying an additional 305,668 shares in the last quarter. Hedge funds and other institutional investors own 82.84% of the company’s stock.
Zimmer Biomet Holdings, Inc. (NYSE:ZBH) traded up 0.41% on Tuesday, reaching $112.97. 1,355,997 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $124.00 and its 200 day moving average price is $121.30. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 32.18 and a beta of 1.20. Zimmer Biomet Holdings, Inc. has a 1-year low of $95.63 and a 1-year high of $133.49.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post $8.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 22nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet Holdings’s payout ratio is currently 27.59%.
Several equities analysts have commented on ZBH shares. Needham & Company LLC raised their price target on shares of Zimmer Biomet Holdings from $151.00 to $153.00 and gave the company a “strong-buy” rating in a research report on Friday, April 28th. Oppenheimer Holdings, Inc. set a $132.00 price target on shares of Zimmer Biomet Holdings and gave the company a “buy” rating in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) started coverage on shares of Zimmer Biomet Holdings in a research report on Tuesday, May 16th. They issued a “sell” rating and a $92.00 price target for the company. Wells Fargo & Company cut shares of Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $136.00 price target on shares of Zimmer Biomet Holdings in a research report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $136.90.
In other news, insider Sang Yi sold 17,731 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $124.56, for a total value of $2,208,573.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Tony W. Collins sold 16,986 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $121.74, for a total transaction of $2,067,875.64. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.
Zimmer Biomet Holdings Company Profile
Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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