Sit Investment Associates Inc. lowered its position in Zimmer Biomet Holdings Inc. (NYSE:ZBH) by 48.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,915 shares of the company’s stock after selling 188,190 shares during the period. Sit Investment Associates Inc.’s holdings in Zimmer Biomet Holdings were worth $23,825,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZBH. Atalanta Sosnoff Capital LLC purchased a new position in Zimmer Biomet Holdings during the second quarter worth about $42,984,000. Eqis Capital Management Inc. raised its position in Zimmer Biomet Holdings by 11.8% in the second quarter. Eqis Capital Management Inc. now owns 11,216 shares of the company’s stock worth $1,350,000 after buying an additional 1,181 shares during the last quarter. Retirement Systems of Alabama raised its position in Zimmer Biomet Holdings by 9.0% in the second quarter. Retirement Systems of Alabama now owns 99,636 shares of the company’s stock worth $11,994,000 after buying an additional 8,258 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Zimmer Biomet Holdings during the first quarter worth about $3,931,000. Finally, Legal & General Group Plc raised its position in Zimmer Biomet Holdings by 14.2% in the first quarter. Legal & General Group Plc now owns 864,145 shares of the company’s stock worth $92,143,000 after buying an additional 107,576 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zimmer Biomet Holdings Inc. (NYSE:ZBH) traded up 1.08% on Wednesday, hitting $130.62. The stock had a trading volume of 717,933 shares. The company has a market cap of $26.13 billion, a PE ratio of 119.29 and a beta of 0.95. The stock’s 50-day moving average price is $127.88 and its 200 day moving average price is $121.05. Zimmer Biomet Holdings Inc. has a 52 week low of $88.27 and a 52 week high of $133.19.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.05. The business earned $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Zimmer Biomet Holdings had a return on equity of 16.12% and a net margin of 1.68%. Zimmer Biomet Holdings’s quarterly revenue was up 65.6% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. On average, analysts predict that Zimmer Biomet Holdings Inc. will post $7.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 23rd will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.74%. Zimmer Biomet Holdings’s payout ratio is presently 157.38%.
ZBH has been the topic of a number of research analyst reports. RBC Capital Markets set a $143.00 target price on Zimmer Biomet Holdings and gave the stock a “buy” rating in a report on Wednesday, September 14th. Barclays PLC lifted their target price on Zimmer Biomet Holdings from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. JMP Securities lifted their price target on Zimmer Biomet Holdings from $131.00 to $145.00 and gave the stock a “market outperform” rating in a research note on Friday, July 29th. Argus reissued a “buy” rating and issued a $140.00 price target on shares of Zimmer Biomet Holdings in a research note on Thursday, September 22nd. Finally, Needham & Company LLC reissued a “buy” rating on shares of Zimmer Biomet Holdings in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $132.36.
In related news, VP Tony W. Collins sold 1,287 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $129.16, for a total transaction of $166,228.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stuart G. Kleopfer sold 533 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $132.71, for a total value of $70,734.43. Following the transaction, the insider now owns 6,397 shares of the company’s stock, valued at $848,945.87. The disclosure for this sale can be found here. Corporate insiders own 1.22% of the company’s stock.
About Zimmer Biomet Holdings
Zimmer Biomet Holdings, Inc, formerly Zimmer Holdings, Inc, is engaged designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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