Mackay Shields LLC cut its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,242 shares of the medical equipment provider’s stock after selling 2,649 shares during the quarter. Mackay Shields LLC’s holdings in Zimmer Biomet were worth $3,704,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bedel Financial Consulting Inc. acquired a new position in Zimmer Biomet in the first quarter valued at $111,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Zimmer Biomet by 5,200.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,007 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 988 shares during the period. Summit Trail Advisors LLC increased its stake in Zimmer Biomet by 8,836.9% in the first quarter. Summit Trail Advisors LLC now owns 127,887 shares of the medical equipment provider’s stock valued at $128,000 after purchasing an additional 126,456 shares during the period. Massey Quick Simon & CO. LLC increased its stake in Zimmer Biomet by 100.0% in the first quarter. Massey Quick Simon & CO. LLC now owns 1,200 shares of the medical equipment provider’s stock valued at $131,000 after purchasing an additional 600 shares during the period. Finally, Adviser Investments LLC acquired a new position in Zimmer Biomet in the first quarter valued at $144,000. Institutional investors own 87.11% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Zimmer Biomet to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Oppenheimer reiterated a “buy” rating and set a $138.00 price target (up from $130.00) on shares of Zimmer Biomet in a research note on Friday, July 27th. Needham & Company LLC lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating and set a $150.00 price target on the stock. in a research note on Monday, August 13th. Zacks Investment Research upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research note on Sunday, July 8th. Finally, ValuEngine upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Zimmer Biomet presently has an average rating of “Buy” and a consensus price target of $135.43.
In related news, VP Tony W. Collins sold 2,778 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $125.77, for a total transaction of $349,389.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.71% of the stock is currently owned by insiders.
ZBH stock opened at $124.67 on Tuesday. The stock has a market cap of $24.94 billion, a P/E ratio of 15.53, a P/E/G ratio of 2.23 and a beta of 1.13. Zimmer Biomet Holdings Inc has a 52 week low of $104.28 and a 52 week high of $129.34. The company has a current ratio of 2.41, a quick ratio of 1.25 and a debt-to-equity ratio of 0.78.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, July 27th. The medical equipment provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Zimmer Biomet had a net margin of 21.67% and a return on equity of 13.53%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share. equities analysts predict that Zimmer Biomet Holdings Inc will post 7.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Friday, June 29th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, June 28th. Zimmer Biomet’s dividend payout ratio is currently 11.96%.
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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