Cypress Capital Management LLC reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 16.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,975 shares of the medical equipment provider’s stock after selling 14,110 shares during the period. Zimmer Biomet makes up about 1.6% of Cypress Capital Management LLC’s holdings, making the stock its 18th largest holding. Cypress Capital Management LLC’s holdings in Zimmer Biomet were worth $11,362,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SeaTown Holdings Pte. Ltd. raised its stake in shares of Zimmer Biomet by 44.8% in the first quarter. SeaTown Holdings Pte. Ltd. now owns 97,000 shares of the medical equipment provider’s stock valued at $15,528,000 after acquiring an additional 30,000 shares in the last quarter. CWM LLC raised its stake in shares of Zimmer Biomet by 7.6% in the first quarter. CWM LLC now owns 94,031 shares of the medical equipment provider’s stock valued at $15,053,000 after acquiring an additional 6,611 shares in the last quarter. Bellevue Group AG raised its stake in shares of Zimmer Biomet by 14.4% in the first quarter. Bellevue Group AG now owns 280,082 shares of the medical equipment provider’s stock valued at $44,836,000 after acquiring an additional 35,321 shares in the last quarter. Norges Bank acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at $304,733,000. Finally, Courier Capital LLC raised its stake in Zimmer Biomet by 34.4% in the first quarter. Courier Capital LLC now owns 6,842 shares of the medical equipment provider’s stock valued at $1,095,000 after buying an additional 1,751 shares in the last quarter. Institutional investors and hedge funds own 88.35% of the company’s stock.
In other news, Director Arthur J. Higgins acquired 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, May 6th. The stock was purchased at an average price of $171.58 per share, for a total transaction of $171,580.00. Following the completion of the transaction, the director now directly owns 3,400 shares in the company, valued at $583,372. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by company insiders.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Monday, May 3rd. The medical equipment provider reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.18. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.75 billion. Zimmer Biomet had a net margin of 8.01% and a return on equity of 9.85%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 earnings per share. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Monday, June 28th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 25th. This represents a $0.96 dividend on an annualized basis and a yield of 0.61%. Zimmer Biomet’s payout ratio is currently 16.93%.
A number of analysts have weighed in on the company. Barclays assumed coverage on Zimmer Biomet in a research note on Tuesday, May 25th. They issued an “overweight” rating and a $210.00 price target on the stock. Truist raised their price target on Zimmer Biomet from $174.00 to $188.00 in a research note on Wednesday, May 5th. JMP Securities raised their price target on Zimmer Biomet from $180.00 to $195.00 and gave the company a “market outperform” rating in a research note on Monday, May 17th. Raymond James raised their price target on Zimmer Biomet from $187.00 to $200.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 5th. Finally, TheStreet lowered Zimmer Biomet from a “b-” rating to a “c+” rating in a report on Monday, March 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $179.35.
Zimmer Biomet 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. The company provides orthopaedic reconstructive products, such as knee and hip replacement products; S.E.T.
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