Whitener Capital Management Inc. trimmed its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 18.6% during the second quarter, Holdings Channel reports. The fund owned 790 shares of the medical equipment provider’s stock after selling 180 shares during the quarter. Whitener Capital Management Inc.’s holdings in Zimmer Biomet were worth $93,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the stock. Comerica Bank increased its position in Zimmer Biomet by 5.6% in the 2nd quarter. Comerica Bank now owns 135,644 shares of the medical equipment provider’s stock worth $16,687,000 after buying an additional 7,157 shares during the period. Envestnet Asset Management Inc. increased its position in Zimmer Biomet by 44.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,560 shares of the medical equipment provider’s stock worth $10,074,000 after buying an additional 26,459 shares during the period. Candriam Luxembourg S.C.A. increased its position in Zimmer Biomet by 45.6% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 162,338 shares of the medical equipment provider’s stock worth $19,030,000 after buying an additional 50,860 shares during the period. TRUE Private Wealth Advisors bought a new position in Zimmer Biomet in the 2nd quarter worth approximately $26,000. Finally, Jacobs & Co. CA increased its position in Zimmer Biomet by 0.8% in the 2nd quarter. Jacobs & Co. CA now owns 37,720 shares of the medical equipment provider’s stock worth $4,441,000 after buying an additional 305 shares during the period. 87.89% of the stock is currently owned by institutional investors and hedge funds.
ZBH stock traded up $1.88 during trading on Friday, hitting $137.01. The company had a trading volume of 827,100 shares, compared to its average volume of 1,535,963. The company has a fifty day moving average price of $127.58 and a two-hundred day moving average price of $123.17. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The company has a market cap of $27.74 billion, a P/E ratio of 17.93, a P/E/G ratio of 2.42 and a beta of 1.15. Zimmer Biomet Holdings Inc has a fifty-two week low of $96.99 and a fifty-two week high of $140.53.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.02. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.98 billion. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. Zimmer Biomet’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.92 EPS. On average, analysts expect that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.70%. The ex-dividend date was Thursday, June 27th. Zimmer Biomet’s dividend payout ratio is 12.57%.
ZBH has been the topic of several recent research reports. Raymond James lifted their price objective on Zimmer Biomet from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Oppenheimer lifted their price objective on Zimmer Biomet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Citigroup lifted their price objective on Zimmer Biomet from $146.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Morgan Stanley lifted their price objective on Zimmer Biomet from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald set a $135.00 price objective on Zimmer Biomet and gave the stock a “buy” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Zimmer Biomet has a consensus rating of “Buy” and an average price target of $141.56.
In related news, VP Chad F. Phipps sold 32,800 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $140.00, for a total value of $4,592,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sang Yi sold 426 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $114.88, for a total value of $48,938.88. Following the completion of the sale, the insider now directly owns 1,457 shares in the company, valued at approximately $167,380.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,373 shares of company stock worth $4,661,328. 0.72% of the stock is owned by insiders.
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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