Investors Purchase Large Volume of Put Options on Zimmer Biomet (NYSE:ZBH)

Zimmer Biomet Holdings Inc (NYSE:ZBH) was the target of unusually large options trading activity on Friday. Traders acquired 1,169 put options on the stock. This is an increase of approximately 1,480% compared to the typical volume of 74 put options.

Several institutional investors and hedge funds have recently modified their holdings of the company. Trust Co increased its holdings in shares of Zimmer Biomet by 56.2% in the 3rd quarter. Trust Co now owns 2,678 shares of the medical equipment provider’s stock valued at $314,000 after purchasing an additional 964 shares during the period. Chesley Taft & Associates LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at about $202,000. Boltwood Capital Management acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at about $861,000. QUANTRES ASSET MANAGEMENT Ltd increased its holdings in shares of Zimmer Biomet by 547.4% in the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 12,300 shares of the medical equipment provider’s stock valued at $1,484,000 after purchasing an additional 10,400 shares during the period. Finally, Atlantic Trust Group LLC increased its holdings in shares of Zimmer Biomet by 32.2% in the 3rd quarter. Atlantic Trust Group LLC now owns 28,171 shares of the medical equipment provider’s stock valued at $3,298,000 after purchasing an additional 6,860 shares during the period. Institutional investors own 85.92% of the company’s stock.

Several research firms recently weighed in on ZBH. Canaccord Genuity reaffirmed a “hold” rating and issued a $132.00 price objective on shares of Zimmer Biomet in a report on Friday, January 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zimmer Biomet in a report on Friday, January 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $136.00 price objective on shares of Zimmer Biomet in a report on Monday, October 2nd. Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Zimmer Biomet in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $137.42.

Zimmer Biomet (ZBH) traded down $0.24 during midday trading on Thursday, reaching $122.29. The company’s stock had a trading volume of 1,304,778 shares, compared to its average volume of 1,467,710. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The firm has a market cap of $24,760.00, a P/E ratio of 38.10, a PEG ratio of 1.96 and a beta of 1.15. Zimmer Biomet has a 12-month low of $108.03 and a 12-month high of $133.49.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Zimmer Biomet had a return on equity of 3.82% and a net margin of 5.43%. Zimmer Biomet’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 EPS. research analysts forecast that Zimmer Biomet will post 8.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Friday, December 29th will be issued a $0.24 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet’s dividend payout ratio is 29.91%.

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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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