Bank of Montreal Can increased its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 15.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 218,333 shares of the medical equipment provider’s stock after acquiring an additional 28,591 shares during the period. Bank of Montreal Can owned approximately 0.11% of Zimmer Biomet worth $28,703,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Bridge Creek Capital Management LLC grew its holdings in Zimmer Biomet by 2.3% in the third quarter. Bridge Creek Capital Management LLC now owns 23,559 shares of the medical equipment provider’s stock valued at $3,097,000 after purchasing an additional 525 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new stake in shares of Zimmer Biomet in the third quarter valued at $217,000. Murphy Capital Management Inc. purchased a new stake in shares of Zimmer Biomet in the third quarter valued at $245,000. DNB Asset Management AS lifted its position in shares of Zimmer Biomet by 7.6% in the third quarter. DNB Asset Management AS now owns 26,688 shares of the medical equipment provider’s stock valued at $3,509,000 after acquiring an additional 1,880 shares in the last quarter. Finally, Boltwood Capital Management lifted its position in shares of Zimmer Biomet by 5.7% in the third quarter. Boltwood Capital Management now owns 7,788 shares of the medical equipment provider’s stock valued at $1,023,000 after acquiring an additional 420 shares in the last quarter. 87.25% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Chad F. Phipps sold 30,100 shares of the stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $132.37, for a total transaction of $3,984,337.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bryan C. Hanson bought 410 shares of Zimmer Biomet stock in a transaction that occurred on Friday, August 31st. The shares were acquired at an average price of $123.03 per share, for a total transaction of $50,442.30. Following the completion of the transaction, the chief executive officer now directly owns 25,487 shares of the company’s stock, valued at approximately $3,135,665.61. The disclosure for this purchase can be found here. Corporate insiders own 0.71% of the company’s stock.
ZBH has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on Zimmer Biomet in a research report on Wednesday, June 27th. They issued an “underperform” rating and a $96.00 price objective on the stock. Zacks Investment Research downgraded Zimmer Biomet from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. ValuEngine upgraded Zimmer Biomet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Oppenheimer restated a “buy” rating and issued a $138.00 price objective (up from $130.00) on shares of Zimmer Biomet in a research report on Friday, July 27th. Finally, Canaccord Genuity upped their price objective on Zimmer Biomet from $122.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $135.33.
NYSE ZBH opened at $124.40 on Friday. Zimmer Biomet Holdings Inc has a twelve month low of $104.28 and a twelve month high of $134.55. The stock has a market cap of $25.70 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 2.32 and a beta of 1.08. The company has a current ratio of 2.41, a quick ratio of 1.25 and a debt-to-equity ratio of 0.78.
Zimmer Biomet (NYSE:ZBH) last released its earnings results on Friday, July 27th. The medical equipment provider reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. Zimmer Biomet had a return on equity of 13.53% and a net margin of 21.67%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Zimmer Biomet Holdings Inc will post 7.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.96 annualized dividend and a yield of 0.77%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 11.96%.
About Zimmer Biomet
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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