State of Tennessee Treasury Department increased its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 202.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 223,054 shares of the medical equipment provider’s stock after acquiring an additional 149,330 shares during the quarter. State of Tennessee Treasury Department’s holdings in Zimmer Biomet were worth $26,915,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC grew its holdings in Zimmer Biomet by 18.6% during the third quarter. Private Advisor Group LLC now owns 6,733 shares of the medical equipment provider’s stock worth $791,000 after buying an additional 1,057 shares in the last quarter. Jana Partners LLC grew its holdings in Zimmer Biomet by 16.6% during the third quarter. Jana Partners LLC now owns 4,662,497 shares of the medical equipment provider’s stock worth $545,932,000 after buying an additional 662,497 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Zimmer Biomet by 10.0% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,444 shares of the medical equipment provider’s stock worth $1,925,000 after purchasing an additional 1,494 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Zimmer Biomet in the third quarter worth $370,000. Finally, Cipher Capital LP purchased a new position in Zimmer Biomet in the third quarter worth $1,225,000. Institutional investors and hedge funds own 88.18% of the company’s stock.
Zimmer Biomet Holdings Inc (ZBH) opened at $117.58 on Friday. Zimmer Biomet Holdings Inc has a 1 year low of $108.03 and a 1 year high of $133.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.83 and a current ratio of 1.52. The company has a market capitalization of $24,029.51, a price-to-earnings ratio of 14.78, a PEG ratio of 2.08 and a beta of 1.08.
The company also recently declared 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 0.82%. Zimmer Biomet’s dividend payout ratio is presently 10.65%.
In related news, insider Bryan C. Hanson acquired 25,077 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $119.68 per share, for a total transaction of $3,001,215.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 value of $2,414,774.70. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.
Several research analysts have weighed in on ZBH shares. SunTrust Banks set a $136.00 price objective on Zimmer Biomet and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Royal Bank of Canada cut their price objective on Zimmer Biomet to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. Needham & Company LLC boosted their price objective on Zimmer Biomet from $144.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 30th. Morgan Stanley cut their price objective on Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Finally, BMO Capital Markets cut their price objective on Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. 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 issued a strong buy rating to the stock. Zimmer Biomet has an average rating of “Buy” and a consensus target price of $141.67.
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Zimmer Biomet 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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