Westside Investment Management Inc. purchased a new stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,520 shares of the medical equipment provider’s stock, valued at approximately $414,000.
A number of other institutional investors have also made changes to their positions in the business. Sound View Wealth Advisors LLC increased its position in shares of Zimmer Biomet by 2.0% in the first quarter. Sound View Wealth Advisors LLC now owns 4,456 shares of the medical equipment provider’s stock worth $569,000 after purchasing an additional 87 shares during the period. MML Investors Services LLC boosted its stake in Zimmer Biomet by 3.4% in the fourth quarter. MML Investors Services LLC now owns 2,912 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 96 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Zimmer Biomet by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the medical equipment provider’s stock valued at $1,379,000 after purchasing an additional 100 shares in the last quarter. Motco boosted its stake in shares of Zimmer Biomet by 86.2% during the first quarter. Motco now owns 216 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Finally, Enlightenment Research LLC boosted its stake in shares of Zimmer Biomet by 6.7% during the first quarter. Enlightenment Research LLC now owns 1,600 shares of the medical equipment provider’s stock valued at $204,000 after purchasing an additional 100 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on ZBH shares. Jefferies Financial Group lifted their price target on Zimmer Biomet from $150.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. ValuEngine raised Zimmer Biomet from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Barclays raised Zimmer Biomet from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $117.00 to $140.00 in a research note on Tuesday, July 30th. Wells Fargo & Co lifted their price target on Zimmer Biomet from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Cowen set a $140.00 price target on Zimmer Biomet and gave the company a “hold” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $140.64.
Zimmer Biomet stock traded down $1.51 during trading on Monday, hitting $136.56. 33,356 shares of the company were exchanged, compared to its average volume of 1,398,322. The firm has a 50 day simple moving average of $122.15. Zimmer Biomet Holdings Inc has a 52 week low of $96.99 and a 52 week high of $138.82. The company has a market capitalization of $28.28 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.47 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.02. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts expect that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.70%. Zimmer Biomet’s payout ratio is 12.57%.
In related news, insider Sang Yi sold 426 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $114.88, for a total transaction of $48,938.88. Following the sale, the insider now directly owns 1,457 shares in the company, valued at approximately $167,380.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.
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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