New York State Teachers Retirement System trimmed its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 0.2% during the third quarter, Holdings Channel.com reports. The firm owned 275,676 shares of the medical equipment provider’s stock after selling 667 shares during the period. New York State Teachers Retirement System’s holdings in Zimmer Biomet were worth $37,842,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in ZBH. Personal Wealth Partners acquired a new position in shares of Zimmer Biomet during the second quarter worth approximately $26,000. TRUE Private Wealth Advisors acquired a new position in shares of Zimmer Biomet during the second quarter worth approximately $26,000. Allworth Financial LP lifted its position in shares of Zimmer Biomet by 65.0% during the third quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Coastal Investment Advisors Inc. lifted its position in shares of Zimmer Biomet by 271.0% during the second quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 187 shares in the last quarter. Finally, Private Ocean LLC lifted its position in shares of Zimmer Biomet by 34.8% during the second quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 87.81% of the company’s stock.
Shares of NYSE ZBH opened at $134.07 on Friday. The company’s 50 day simple moving average is $137.10 and its 200 day simple moving average is $127.80. Zimmer Biomet Holdings Inc has a fifty-two week low of $96.99 and a fifty-two week high of $143.57. The firm has a market capitalization of $27.69 billion, a P/E ratio of 17.55, a P/E/G ratio of 2.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56.
Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Friday, July 26th. The medical equipment provider reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.98 billion. Zimmer Biomet had a negative net margin of 4.56% and a positive return on equity of 13.40%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. Sell-side analysts expect that Zimmer Biomet Holdings Inc will post 7.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.96 annualized dividend and a yield of 0.72%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 12.57%.
ZBH has been the topic of a number of research reports. Oppenheimer upped their target price on shares of Zimmer Biomet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Argus upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Monday, August 12th. Raymond James upped their target price on shares of Zimmer Biomet from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Zacks Investment Research upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a report on Saturday, August 31st. Finally, Citigroup increased their price objective on shares of Zimmer Biomet from $146.00 to $158.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $145.40.
In other Zimmer Biomet news, VP Chad F. Phipps sold 7,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $138.28, for a total value of $967,960.00. Following the sale, the vice president now directly owns 37,722 shares in the company, valued at $5,216,198.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Didier Deltort sold 360 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $139.25, for a total transaction of $50,130.00. Following the completion of the sale, the insider now owns 1,194 shares in the company, valued at $166,264.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,391 shares of company stock worth $5,642,274. Company insiders own 0.72% of the company’s stock.
Zimmer Biomet Company 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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