Quantitative Investment Management LLC bought a new position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,000 shares of the medical equipment provider’s stock, valued at approximately $3,258,000.
Other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia Trust Co. acquired a new stake in Zimmer Biomet during the third quarter worth about $112,000. FNY Managed Accounts LLC acquired a new stake in Zimmer Biomet during the third quarter worth about $117,000. Cerebellum GP LLC acquired a new stake in Zimmer Biomet during the fourth quarter worth about $133,000. Steward Partners Investment Advisory LLC purchased a new position in Zimmer Biomet during the third quarter worth approximately $140,000. Finally, Chesley Taft & Associates LLC purchased a new position in Zimmer Biomet during the fourth quarter worth approximately $202,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on ZBH shares. Canaccord Genuity reiterated a “hold” rating and set a $125.00 price target on shares of Zimmer Biomet in a research report on Tuesday, December 19th. Goldman Sachs upgraded 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. Citigroup lowered their price target on Zimmer Biomet from $132.00 to $121.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. ValuEngine upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Finally, Oppenheimer restated a “buy” rating on shares of Zimmer Biomet in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $139.35.
In related news, insider Bryan C. Hanson bought 25,077 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $119.68 per share, for a total transaction of $3,001,215.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Chad F. Phipps sold 20,826 shares of Zimmer Biomet 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. Insiders own 1.07% of the company’s stock.
ZBH stock traded down $3.17 during midday trading on Friday, hitting $105.18. 861,253 shares of the company’s stock were exchanged, compared to its average volume of 1,193,736. The company has a quick ratio of 0.81, a current ratio of 1.50 and a debt-to-equity ratio of 0.76. The stock has a market cap of $21,367.00, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. Zimmer Biomet Holdings Inc has a 1-year low of $104.28 and a 1-year high of $133.49.
Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Tuesday, January 30th. The medical equipment provider reported $2.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.10. Zimmer Biomet had a return on equity of 15.45% and a net margin of 23.51%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm earned $2.14 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. sell-side analysts anticipate that Zimmer Biomet Holdings Inc will post 7.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Zimmer Biomet’s payout ratio is presently 11.96%.
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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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