Atlantic Trust Group LLC lifted its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,712 shares of the medical equipment provider’s stock after buying an additional 1,285 shares during the period. Atlantic Trust Group LLC’s holdings in Zimmer Biomet were worth $3,241,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Counselors Inc. boosted its stake in shares of Zimmer Biomet by 5.2% in the 4th quarter. Financial Counselors Inc. now owns 8,709 shares of the medical equipment provider’s stock worth $1,051,000 after buying an additional 431 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Zimmer Biomet by 0.9% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 49,118 shares of the medical equipment provider’s stock valued at $5,926,000 after purchasing an additional 447 shares during the last quarter. HPM Partners LLC lifted its stake in Zimmer Biomet by 4.2% in the fourth quarter. HPM Partners LLC now owns 11,958 shares of the medical equipment provider’s stock valued at $1,443,000 after purchasing an additional 484 shares during the last quarter. State Treasurer State of Michigan lifted its stake in Zimmer Biomet by 0.8% in the first quarter. State Treasurer State of Michigan now owns 59,843 shares of the medical equipment provider’s stock valued at $6,525,000 after purchasing an additional 500 shares during the last quarter. Finally, Israel Discount Bank of New York lifted its stake in Zimmer Biomet by 8.6% in the fourth quarter. Israel Discount Bank of New York now owns 6,603 shares of the medical equipment provider’s stock valued at $797,000 after purchasing an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 87.21% of the company’s stock.
Several research firms recently commented on ZBH. ValuEngine downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Canaccord Genuity reiterated a “hold” rating and issued a $121.00 price objective on shares of Zimmer Biomet in a research note on Thursday, April 12th. Argus downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Friday. Evercore ISI began coverage on Zimmer Biomet in a research note on Monday, April 2nd. They issued an “in-line” rating and a $115.00 price objective on the stock. Finally, Needham & Company LLC dropped their price objective on Zimmer Biomet from $155.00 to $146.00 and set a “strong-buy” rating on the stock in a research note on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $137.71.
In other news, VP Tony W. Collins sold 1,330 shares of the company’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $116.73, for a total value of $155,250.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Katarzyna Mazur-Hofsaess sold 8,765 shares of the company’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $113.61, for a total transaction of $995,791.65. Following the completion of the transaction, the insider now directly owns 25,447 shares in the company, valued at approximately $2,891,033.67. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
NYSE:ZBH opened at $110.73 on Tuesday. The firm has a market cap of $22.72 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 2.18 and a beta of 1.14. Zimmer Biomet Holdings Inc has a 1 year low of $104.28 and a 1 year high of $133.49. The company has a current ratio of 1.69, a quick ratio of 1.07 and a debt-to-equity ratio of 0.79.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, April 26th. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Zimmer Biomet had a net margin of 21.81% and a return on equity of 14.36%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.13 earnings per share. analysts predict that Zimmer Biomet Holdings Inc will post 7.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Zimmer Biomet’s payout ratio is currently 11.96%.
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. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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