Pacer Advisors Inc. purchased a new stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,246 shares of the medical equipment provider’s stock, valued at approximately $2,536,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Intact Investment Management Inc. lifted its stake in Zimmer Biomet by 8.7% in the second quarter. Intact Investment Management Inc. now owns 5,000 shares of the medical equipment provider’s stock valued at $597,000 after buying an additional 400 shares during the period. Shine Investment Advisory Services Inc. lifted its stake in Zimmer Biomet by 53.5% in the second quarter. Shine Investment Advisory Services Inc. now owns 241 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 84 shares during the period. LaFleur & Godfrey LLC lifted its stake in Zimmer Biomet by 1.9% in the second quarter. LaFleur & Godfrey LLC now owns 37,955 shares of the medical equipment provider’s stock valued at $4,530,000 after buying an additional 690 shares during the period. Costello Asset Management INC acquired a new position in Zimmer Biomet in the second quarter valued at approximately $2,082,000. Finally, Pitcairn Co. acquired a new position in Zimmer Biomet in the second quarter valued at approximately $213,000. 88.02% of the stock is currently owned by hedge funds and other institutional investors.
In other Zimmer Biomet news, CEO Bryan C. Hanson acquired 1,000 shares of Zimmer Biomet stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $113.00 per share, for a total transaction of $113,000.00. Following the purchase, the chief executive officer now directly owns 54,568 shares of the company’s stock, valued at $6,166,184. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sang Yi sold 3,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.38, for a total value of $376,140.00. Following the completion of the transaction, the insider now owns 2,506 shares of the company’s stock, valued at approximately $314,202.28. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.17. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. Zimmer Biomet had a return on equity of 13.29% and a net margin of 4.84%. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 EPS. On average, analysts predict that Zimmer Biomet Holdings Inc will post 3.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, June 29th were paid a $0.24 dividend. The ex-dividend date was Friday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.71%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 12.20%.
Several brokerages have issued reports on ZBH. Citigroup boosted their price target on Zimmer Biomet from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Canaccord Genuity boosted their price objective on Zimmer Biomet from $135.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Evercore ISI downgraded Zimmer Biomet from an “outperform” rating to an “in-line” rating in a report on Sunday, April 19th. Needham & Company LLC decreased their price objective on Zimmer Biomet from $153.00 to $148.00 and set a “strong-buy” rating for the company in a report on Monday, May 11th. Finally, BTIG Research decreased their price objective on Zimmer Biomet from $170.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $147.65.
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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