Taylor Hoffman Wealth Management lifted its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 14.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 930 shares of the medical equipment provider’s stock after acquiring an additional 120 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Zimmer Biomet were worth $128,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZBH. Allworth Financial LP lifted its holdings in 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 buying an additional 80 shares during the period. Personal Wealth Partners acquired a new position in Zimmer Biomet during the 2nd quarter worth about $26,000. TRUE Private Wealth Advisors acquired a new position in Zimmer Biomet during the 2nd quarter worth about $26,000. Coastal Investment Advisors Inc. lifted its holdings in 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 buying an additional 187 shares during the period. Finally, Bridger Capital Management LLC bought a new position in shares of Zimmer Biomet in the 3rd quarter worth about $39,000. 87.72% of the stock is currently owned by institutional investors.
In related 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 owns 1,194 shares in the company, valued at $166,264.50. The transaction was disclosed in a document filed with the SEC, which is available 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 owns 37,722 shares in the company, valued at approximately $5,216,198.16. The disclosure for this sale can be found here. Insiders sold a total of 40,244 shares of company stock worth $5,621,885 in the last 90 days. Company insiders own 0.72% of the company’s stock.
Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Tuesday, November 5th. The medical equipment provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.02. Zimmer Biomet had a positive return on equity of 13.89% and a negative net margin of 1.14%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Zimmer Biomet Holdings Inc will post 7.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.67%. Zimmer Biomet’s payout ratio is presently 12.57%.
Several research analysts have recently weighed in on the company. Citigroup lifted their price objective on Zimmer Biomet from $146.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Zacks Investment Research raised Zimmer Biomet from a “sell” rating to a “hold” rating and set a $149.00 price objective for the company in a research report on Sunday, November 3rd. ValuEngine lowered Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Credit Suisse Group boosted their target price on Zimmer Biomet from $101.00 to $120.00 and gave the company an “underperform” rating in a research report on Monday, July 29th. Finally, UBS Group boosted their target price on Zimmer Biomet from $158.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $147.95.
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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