First Command Financial Services Inc. bought a new position in Zimmer Biomet Holdings Inc (NYSE:ZBH) in the 1st quarter, HoldingsChannel reports. The firm bought 2,427 shares of the medical equipment provider’s stock, valued at approximately $310,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC lifted its stake in shares of Zimmer Biomet by 22.3% in the first quarter. Ridgewood Investments LLC now owns 4,031 shares of the medical equipment provider’s stock worth $515,000 after acquiring an additional 735 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of Zimmer Biomet by 1.4% in the first quarter. Retirement Systems of Alabama now owns 95,193 shares of the medical equipment provider’s stock worth $12,156,000 after acquiring an additional 1,354 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Zimmer Biomet by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the medical equipment provider’s stock worth $1,379,000 after acquiring an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Zimmer Biomet in the first quarter worth about $960,000. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Zimmer Biomet by 113.3% in the first quarter. Valeo Financial Advisors LLC now owns 16,935 shares of the medical equipment provider’s stock worth $2,163,000 after acquiring an additional 8,997 shares in the last quarter. 89.82% of the stock is owned by institutional investors.
In other news, Director Syed A. Jafry purchased 1,925 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $125.52 per share, with a total value of $241,626.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Betsy J. Bernard purchased 4,250 shares of the firm’s stock in a transaction on Wednesday, February 6th. The shares were purchased at an average cost of $117.41 per share, with a total value of $498,992.50. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $234,820. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 12,860 shares of company stock valued at $1,548,994. 0.71% of the stock is currently owned by corporate insiders.
Several research analysts recently commented on ZBH shares. Cantor Fitzgerald set a $135.00 price target on Zimmer Biomet and gave the stock a “buy” rating in a research note on Friday, January 25th. Stifel Nicolaus decreased their price objective on Zimmer Biomet from $150.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 22nd. Citigroup raised Zimmer Biomet from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $122.00 to $127.00 in a report on Wednesday, January 2nd. Oppenheimer reissued a “buy” rating on shares of Zimmer Biomet in a report on Saturday, February 2nd. Finally, SunTrust Banks increased their price objective on Zimmer Biomet to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $129.95.
NYSE ZBH traded down $0.02 on Monday, reaching $127.90. 854,045 shares of the stock traded hands, compared to its average volume of 1,250,055. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.90 and a current ratio of 1.83. The firm has a market cap of $26.30 billion, a P/E ratio of 16.74, a PEG ratio of 2.26 and a beta of 1.23. Zimmer Biomet Holdings Inc has a 12 month low of $96.99 and a 12 month high of $134.55.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Friday, February 1st. The medical equipment provider reported $2.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.18. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a positive return on equity of 13.17% and a negative net margin of 4.78%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $2.10 EPS. On average, research analysts predict that Zimmer Biomet Holdings Inc will post 7.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, March 28th. Zimmer Biomet’s payout ratio is currently 12.57%.
Zimmer Biomet Company 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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