Shine Investment Advisory Services Inc. Raises Position in Zimmer Biomet Holdings Inc (NYSE:ZBH)

Shine Investment Advisory Services Inc. increased its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 53.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241 shares of the medical equipment provider’s stock after purchasing an additional 84 shares during the quarter. Shine Investment Advisory Services Inc.’s holdings in Zimmer Biomet were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. State Street Corp grew its holdings in Zimmer Biomet by 0.5% in the 1st quarter. State Street Corp now owns 8,542,497 shares of the medical equipment provider’s stock worth $865,503,000 after acquiring an additional 42,671 shares during the last quarter. Capital Research Global Investors bought a new stake in Zimmer Biomet in the 1st quarter worth $792,404,000. Primecap Management Co. CA grew its holdings in Zimmer Biomet by 16.7% in the 1st quarter. Primecap Management Co. CA now owns 3,422,040 shares of the medical equipment provider’s stock worth $345,900,000 after acquiring an additional 489,120 shares during the last quarter. Geode Capital Management LLC grew its holdings in Zimmer Biomet by 0.8% in the 1st quarter. Geode Capital Management LLC now owns 3,235,466 shares of the medical equipment provider’s stock worth $326,411,000 after acquiring an additional 25,219 shares during the last quarter. Finally, Waddell & Reed Financial Inc. grew its holdings in Zimmer Biomet by 9.6% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,662,226 shares of the medical equipment provider’s stock worth $168,018,000 after acquiring an additional 145,934 shares during the last quarter. Institutional investors own 88.02% of the company’s stock.

Shares of Zimmer Biomet stock opened at $134.86 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.03 and a current ratio of 1.69. The stock has a market capitalization of $27.84 billion, a PE ratio of 74.51, a price-to-earnings-growth ratio of 5.33 and a beta of 1.31. Zimmer Biomet Holdings Inc has a 52-week low of $74.37 and a 52-week high of $161.11. The company has a 50-day simple moving average of $125.63 and a two-hundred day simple moving average of $126.30.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Monday, May 11th. The medical equipment provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.17. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Zimmer Biomet had a net margin of 4.84% and a return on equity of 13.29%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.87 earnings per share. As a group, equities research analysts forecast that Zimmer Biomet Holdings Inc will post 3.82 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, June 29th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.71%. Zimmer Biomet’s payout ratio is 12.20%.

In related news, CEO Bryan C. Hanson acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $113.00 per share, with a total value of $113,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 54,568 shares of the company’s stock, valued at $6,166,184. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sang Yi sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.38, for a total transaction of $376,140.00. Following the transaction, the insider now directly owns 2,506 shares of the company’s stock, valued at $314,202.28. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on the stock. Piper Sandler cut their target price on shares of Zimmer Biomet from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Citigroup lifted their target price on shares of Zimmer Biomet from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. JMP Securities cut their target price on shares of Zimmer Biomet from $175.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. Oppenheimer assumed coverage on shares of Zimmer Biomet in a research note on Thursday, May 28th. They set a “buy” rating and a $138.00 target price on the stock. Finally, Raymond James lifted their target price on shares of Zimmer Biomet from $136.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 12th. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $147.65.

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

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