Uncommon Cents Investing LLC purchased a new position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,120 shares of the medical equipment provider’s stock, valued at approximately $3,702,000. Zimmer Biomet makes up about 2.4% of Uncommon Cents Investing LLC’s holdings, making the stock its 12th biggest holding.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Zimmer Biomet in the third quarter worth approximately $112,000. FNY Managed Accounts LLC acquired a new stake in shares of Zimmer Biomet in the third quarter worth approximately $117,000. Cerebellum GP LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter worth approximately $133,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Zimmer Biomet in the third quarter worth approximately $140,000. Finally, Chesley Taft & Associates LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter worth approximately $202,000. Institutional investors and hedge funds own 86.36% of the company’s stock.
In other news, VP Chad F. Phipps sold 20,826 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $115.95, for a total transaction of $2,414,774.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.07% of the company’s stock.
Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Tuesday, January 30th. The medical equipment provider reported $2.10 EPS for the quarter, hitting analysts’ consensus estimates of $2.10. Zimmer Biomet had a net margin of 23.51% and a return on equity of 15.45%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company posted $2.14 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. research analysts anticipate that Zimmer Biomet Holdings Inc will post 7.82 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, January 29th. Stockholders of record on Friday, December 29th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. Zimmer Biomet’s payout ratio is currently 10.65%.
A number of research analysts have weighed in on ZBH shares. Goldman Sachs Group raised shares of Zimmer Biomet from a “sell” rating to a “neutral” rating and set a $125.00 price target on the stock in a research report on Tuesday, December 19th. Stifel Nicolaus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and lifted their price target for the company from $120.00 to $168.00 in a research report on Wednesday, January 31st. Canaccord Genuity reaffirmed a “hold” rating and set a $132.00 price target on shares of Zimmer Biomet in a research report on Friday, January 5th. Robert W. Baird reaffirmed a “buy” rating on shares of Zimmer Biomet in a research report on Wednesday, January 31st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $142.00 price target on shares of Zimmer Biomet in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $141.67.
About Zimmer Biomet
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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