Evergreen Capital Management LLC bought a new stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) during the first quarter, Holdings Channel reports. The institutional investor bought 1,575 shares of the medical equipment provider’s stock, valued at approximately $201,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in shares of Zimmer Biomet by 1.6% during the third quarter. Vanguard Group Inc now owns 14,511,433 shares of the medical equipment provider’s stock worth $1,907,818,000 after purchasing an additional 228,894 shares during the period. IFP Advisors Inc increased its stake in shares of Zimmer Biomet by 69.1% during the fourth quarter. IFP Advisors Inc now owns 2,139 shares of the medical equipment provider’s stock worth $220,000 after purchasing an additional 874 shares during the period. Wedbush Securities Inc. increased its stake in shares of Zimmer Biomet by 11.2% during the fourth quarter. Wedbush Securities Inc. now owns 2,922 shares of the medical equipment provider’s stock worth $303,000 after purchasing an additional 294 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Zimmer Biomet by 32.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 20,659 shares of the medical equipment provider’s stock worth $2,143,000 after purchasing an additional 5,047 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Zimmer Biomet by 0.3% during the fourth quarter. Rhumbline Advisers now owns 369,998 shares of the medical equipment provider’s stock worth $38,376,000 after purchasing an additional 1,101 shares during the period. Institutional investors own 88.62% of the company’s stock.
In other news, insider Sang Yi sold 426 shares of Zimmer Biomet stock in a transaction on Friday, May 24th. The stock was sold at an average price of $114.88, for a total value of $48,938.88. Following the transaction, the insider now owns 1,457 shares in the company, valued at approximately $167,380.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.
Shares of ZBH opened at $118.54 on Thursday. Zimmer Biomet Holdings Inc has a 52-week low of $96.99 and a 52-week high of $134.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 2.00. The firm has a market capitalization of $23.41 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.17.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Friday, April 26th. The medical equipment provider reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.01. Zimmer Biomet had a positive return on equity of 13.24% and a negative net margin of 3.90%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company posted $1.91 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts expect that Zimmer Biomet Holdings Inc will post 7.81 earnings per share for the current year.
ZBH has been the topic of a number of recent research reports. Zacks Investment Research lowered Zimmer Biomet from a “hold” rating to a “sell” rating in a research note on Saturday, April 13th. Needham & Company LLC upgraded Zimmer Biomet from a “buy” rating to a “strong-buy” rating and raised their price objective for the stock from $146.00 to $155.00 in a research note on Wednesday, April 24th. Cantor Fitzgerald set a $135.00 price objective on Zimmer Biomet and gave the stock a “buy” rating in a research note on Friday, April 26th. Evercore ISI upgraded Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, April 8th. Finally, Barclays raised their price objective on Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a research note on Monday, April 15th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $130.19.
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About Zimmer Biomet
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.
Further Reading: Trading on Margin
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