Investec Asset Management LTD decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,024,340 shares of the medical equipment provider’s stock after selling 44,249 shares during the quarter. Zimmer Biomet Holdings comprises approximately 1.2% of Investec Asset Management LTD’s investment portfolio, making the stock its 20th largest position. Investec Asset Management LTD owned approximately 1.00% of Zimmer Biomet Holdings worth $259,925,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. MARSHALL WACE ASIA Ltd bought a new stake in Zimmer Biomet Holdings during the 1st quarter valued at $38,621,000. Cibc World Markets Corp increased its stake in Zimmer Biomet Holdings by 52.9% during the 1st quarter. Cibc World Markets Corp now owns 21,007 shares of the medical equipment provider’s stock valued at $2,565,000 after purchasing an additional 7,269 shares in the last quarter. Caxton Associates LP bought a new stake in Zimmer Biomet Holdings during the 1st quarter valued at $403,000. Jensen Investment Management Inc. increased its stake in Zimmer Biomet Holdings by 24.2% during the 2nd quarter. Jensen Investment Management Inc. now owns 5,850 shares of the medical equipment provider’s stock valued at $751,000 after purchasing an additional 1,140 shares in the last quarter. Finally, Commerce Bank increased its stake in Zimmer Biomet Holdings by 1.5% during the 2nd quarter. Commerce Bank now owns 218,171 shares of the medical equipment provider’s stock valued at $28,013,000 after purchasing an additional 3,142 shares in the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.
Zimmer Biomet Holdings, Inc. (ZBH) traded down 0.45% on Friday, hitting $115.47. 1,626,722 shares of the company traded hands. The firm has a market capitalization of $23.35 billion, a PE ratio of 32.89 and a beta of 1.21. The firm’s 50 day moving average price is $114.88 and its 200 day moving average price is $120.74. Zimmer Biomet Holdings, Inc. has a 1-year low of $95.63 and a 1-year high of $133.49.
Zimmer Biomet Holdings (NYSE:ZBH) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.02). The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $2.02 EPS. Equities research analysts predict that Zimmer Biomet Holdings, Inc. will post $8.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio (DPR) is presently 27.59%.
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A number of analysts have commented on ZBH shares. Zacks Investment Research lowered shares of Zimmer Biomet Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Morgan Stanley lifted their price objective on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Oppenheimer Holdings, Inc. set a $137.00 price objective on shares of Zimmer Biomet Holdings and gave the stock a “buy” rating in a report on Monday, August 14th. Canaccord Genuity reaffirmed a “buy” rating and set a $141.00 price objective on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and set a $153.00 price objective on shares of Zimmer Biomet Holdings in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $136.75.
In related news, VP Tony W. Collins sold 16,986 shares of Zimmer Biomet Holdings stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $121.74, for a total transaction of $2,067,875.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.07% of the stock is currently owned by company insiders.
Zimmer Biomet Holdings Company Profile
Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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