Pacer Advisors Inc. Has $1.16 Million Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Pacer Advisors Inc. lowered its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 35.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,208 shares of the medical equipment provider’s stock after selling 5,717 shares during the quarter. Pacer Advisors Inc.’s holdings in Zimmer Biomet were worth $1,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Garde Capital Inc. bought a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $29,000. Menard Financial Group LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. bought a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $30,000. Columbia River Financial Group LLC bought a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $30,000. Finally, Accredited Wealth Management LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 1.7%

ZBH opened at $93.38 on Thursday. The stock has a market cap of $18.48 billion, a PE ratio of 20.66, a P/E/G ratio of 2.22 and a beta of 0.71. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $116.71. The business’s fifty day simple moving average is $93.21 and its 200 day simple moving average is $100.48.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business posted $1.94 earnings per share. Zimmer Biomet’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. Zimmer Biomet’s payout ratio is 21.24%.

Insider Buying and Selling at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider owned 20,424 shares of the company’s stock, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ZBH. Raymond James Financial cut their target price on Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Evercore ISI cut their target price on Zimmer Biomet from $102.00 to $96.00 and set an “in-line” rating for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group cut their price objective on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. BTIG Research reiterated a “buy” rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Finally, Wells Fargo & Company cut their price objective on Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $111.39.

Zimmer Biomet Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.