Victory Capital Management Inc. lifted its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 460,746 shares of the medical equipment provider’s stock after purchasing an additional 8,028 shares during the quarter. Victory Capital Management Inc. owned about 0.23% of Zimmer Biomet worth $60,574,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Zimmer Biomet by 5,200.0% in the 2nd 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 last quarter. Aries Wealth Management purchased a new position in shares of Zimmer Biomet in the 2nd quarter valued at approximately $202,000. Northstar Investment Advisors LLC purchased a new position in shares of Zimmer Biomet in the 3rd quarter valued at approximately $214,000. HighPoint Advisor Group LLC purchased a new position in shares of Zimmer Biomet in the 3rd quarter valued at approximately $202,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new position in shares of Zimmer Biomet in the 3rd quarter valued at approximately $217,000. 86.28% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Chad F. Phipps sold 30,100 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $132.37, for a total transaction of $3,984,337.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Bryan C. Hanson acquired 410 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were purchased at an average cost of $123.03 per share, for a total transaction of $50,442.30. Following the purchase, the chief executive officer now directly owns 25,487 shares in the company, valued at $3,135,665.61. The disclosure for this purchase can be found here. 0.71% of the stock is owned by company insiders.
Several equities analysts recently weighed in on the stock. Piper Jaffray Companies increased their price target on shares of Zimmer Biomet from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, July 30th. Oppenheimer reiterated a “buy” rating and issued a $138.00 price target (up previously from $130.00) on shares of Zimmer Biomet in a report on Friday, July 27th. Raymond James increased their price target on shares of Zimmer Biomet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. Leerink Swann cut their price target on shares of Zimmer Biomet from $146.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Finally, Barclays cut their price target on shares of Zimmer Biomet from $131.00 to $119.00 and set a “sell” rating on the stock in a report on Monday, October 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $133.86.
Shares of NYSE ZBH opened at $115.04 on Wednesday. The company has a market cap of $23.43 billion, a PE ratio of 14.33, a PEG ratio of 2.33 and a beta of 1.16. Zimmer Biomet Holdings Inc has a 12 month low of $104.28 and a 12 month high of $134.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 1.89.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Friday, October 26th. The medical equipment provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $1.72 EPS. As a group, analysts forecast that Zimmer Biomet Holdings Inc will post 7.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.83%. Zimmer Biomet’s payout ratio is 11.96%.
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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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