Greylin Investment Mangement Inc. Lowers Holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH)

Greylin Investment Mangement Inc. decreased its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 6.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,775 shares of the medical equipment provider’s stock after selling 325 shares during the period. Greylin Investment Mangement Inc.’s holdings in Zimmer Biomet were worth $655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ZBH. Personal Wealth Partners purchased a new stake in shares of Zimmer Biomet during the 2nd quarter worth about $26,000. TRUE Private Wealth Advisors purchased a new stake in shares of Zimmer Biomet during the 2nd quarter worth about $26,000. Allworth Financial LP grew its holdings in shares of Zimmer Biomet by 65.0% during the 3rd quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 80 shares during the period. Coastal Investment Advisors Inc. grew its holdings in shares of Zimmer Biomet by 271.0% during the 2nd 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 during the period. Finally, Private Ocean LLC grew its holdings in shares of Zimmer Biomet by 34.8% during the 2nd quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 80 shares during the period. Institutional investors own 87.83% of the company’s stock.

In other Zimmer Biomet news, insider Didier Deltort sold 360 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $139.25, for a total value of $50,130.00. Following the transaction, the insider now directly owns 1,194 shares of the company’s stock, valued at approximately $166,264.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Chad F. Phipps sold 7,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 37,722 shares in the company, valued at $5,216,198.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,391 shares of company stock worth $5,642,274. 0.72% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on ZBH. ValuEngine cut Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Raymond James boosted their target price on Zimmer Biomet from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Cowen set a $140.00 target price on Zimmer Biomet and gave the stock a “buy” rating in a report on Monday, September 23rd. Canaccord Genuity raised Zimmer Biomet from a “hold” rating to a “buy” rating and boosted their price target for the stock from $137.00 to $167.00 in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group boosted their price target on Zimmer Biomet from $150.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $145.40.

Shares of ZBH traded up $3.06 during trading on Friday, reaching $137.14. The company’s stock had a trading volume of 563,730 shares, compared to its average volume of 1,065,429. The company has a fifty day moving average of $137.15 and a two-hundred day moving average of $127.08. Zimmer Biomet Holdings Inc has a twelve month low of $96.99 and a twelve month high of $143.57. The company has a market cap of $26.94 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.49 and a beta of 1.16. The company has a quick ratio of 0.56, a current ratio of 1.19 and a debt-to-equity ratio of 0.58.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Friday, July 26th. The medical equipment provider reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.02. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company posted $1.92 EPS. Zimmer Biomet’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities analysts forecast that Zimmer Biomet Holdings Inc will post 7.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, September 27th. Zimmer Biomet’s payout ratio is 12.57%.

About Zimmer Biomet

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.

Further Reading: Forex

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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