BlackRock Inc. Sells 148,588 Shares of Zimmer Biomet (ZBH)

BlackRock Inc. reduced its position in Zimmer Biomet (NYSE:ZBH) by 0.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,377,245 shares of the medical equipment provider’s stock after selling 148,588 shares during the quarter. BlackRock Inc. owned about 8.55% of Zimmer Biomet worth $1,894,815,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ZBH. Bank of Montreal Can increased its stake in Zimmer Biomet by 7.7% in the 4th quarter. Bank of Montreal Can now owns 229,641 shares of the medical equipment provider’s stock valued at $27,711,000 after buying an additional 16,421 shares during the period. Creative Planning increased its stake in Zimmer Biomet by 2.9% in the 4th quarter. Creative Planning now owns 15,765 shares of the medical equipment provider’s stock valued at $1,902,000 after buying an additional 443 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Zimmer Biomet by 3.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 778,966 shares of the medical equipment provider’s stock valued at $93,998,000 after buying an additional 27,740 shares during the period. State of Alaska Department of Revenue increased its stake in Zimmer Biomet by 95.6% in the 4th quarter. State of Alaska Department of Revenue now owns 26,498 shares of the medical equipment provider’s stock valued at $3,196,000 after buying an additional 12,950 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP increased its stake in Zimmer Biomet by 21.6% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 40,920 shares of the medical equipment provider’s stock valued at $4,938,000 after buying an additional 7,270 shares during the period. 87.42% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on the stock. SunTrust Banks boosted their price objective on shares of Zimmer Biomet to $142.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Tuesday, January 30th. ValuEngine cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Needham & Company LLC lowered their price target on shares of Zimmer Biomet from $155.00 to $146.00 and set a “strong-buy” rating on the stock in a research note on Friday, April 27th. Finally, JMP Securities lowered their price target on shares of Zimmer Biomet from $145.00 to $133.00 and set a “market outperform” rating on the stock in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $137.71.

Zimmer Biomet opened at $112.71 on Thursday, Marketbeat.com reports. Zimmer Biomet has a 52 week low of $104.28 and a 52 week high of $133.49. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.07 and a current ratio of 1.69. The stock has a market capitalization of $23.24 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, April 26th. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.89 by $0.02. Zimmer Biomet had a net margin of 21.81% and a return on equity of 14.36%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the firm earned $2.13 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. analysts forecast that Zimmer Biomet will post 7.67 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Thursday, March 29th were given a $0.24 dividend. The ex-dividend date was Wednesday, March 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio is presently 11.96%.

In related news, insider Katarzyna Mazur-Hofsaess sold 8,765 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $113.61, for a total value of $995,791.65. Following the sale, the insider now directly owns 25,447 shares in the company, valued at approximately $2,891,033.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Tony W. Collins sold 1,330 shares of the business’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $116.73, for a total transaction of $155,250.90. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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