TIAA CREF Investment Management LLC grew its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 56.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,132,003 shares of the medical equipment provider’s stock after buying an additional 407,066 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.56% of Zimmer Biomet worth $136,599,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. acquired a new stake in Zimmer Biomet in the third quarter worth $112,000. FNY Managed Accounts LLC acquired a new stake in Zimmer Biomet in the third quarter worth $117,000. Cerebellum GP LLC acquired a new stake in Zimmer Biomet in the fourth quarter worth $133,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Zimmer Biomet during the third quarter worth $140,000. Finally, Chesley Taft & Associates LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth $202,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
ZBH has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on shares of Zimmer Biomet in a report on Monday, April 2nd. They set an “in-line” rating and a $115.00 price objective on the stock. Robert W. Baird downgraded shares of Zimmer Biomet from an “outperform” rating to a “neutral” rating in a research report on Friday, March 23rd. Morgan Stanley decreased their target price on shares of Zimmer Biomet from $150.00 to $148.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. Citigroup decreased their price objective on shares of Zimmer Biomet from $132.00 to $121.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Needham & Company LLC lifted their price objective on shares of Zimmer Biomet from $144.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Zimmer Biomet has an average rating of “Buy” and a consensus target price of $139.35.
Shares of NYSE:ZBH traded down $3.17 during trading on Friday, reaching $105.18. The stock had a trading volume of 861,253 shares, compared to its average volume of 1,193,736. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.81 and a current ratio of 1.50. Zimmer Biomet Holdings Inc has a 52 week low of $104.28 and a 52 week high of $133.49. The firm has a market cap of $21,367.00, a P/E ratio of 13.10, a P/E/G ratio of 1.83 and a beta of 1.17.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $2.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.10. Zimmer Biomet had a net margin of 23.51% and a return on equity of 15.45%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. sell-side analysts anticipate that Zimmer Biomet Holdings Inc will post 7.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.96 annualized dividend and a yield of 0.91%. Zimmer Biomet’s payout ratio is 11.96%.
In other news, VP Chad F. Phipps sold 20,826 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $115.95, for a total value of $2,414,774.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bryan C. Hanson bought 25,077 shares of the stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $119.68 per share, with a total value of $3,001,215.36. The disclosure for this purchase can be found here. Corporate insiders own 1.07% of the company’s stock.
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Zimmer Biomet Company 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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