Cerebellum GP LLC raised its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 68.6% during the first quarter, Holdings Channel reports. The fund owned 2,654 shares of the medical equipment provider’s stock after purchasing an additional 1,080 shares during the quarter. Cerebellum GP LLC’s holdings in Zimmer Biomet were worth $339,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ZBH. Norges Bank bought a new stake in Zimmer Biomet in the 4th quarter valued at $188,005,000. American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 23.1% in the 4th quarter. American Century Companies Inc. now owns 5,425,619 shares of the medical equipment provider’s stock worth $562,745,000 after buying an additional 1,016,489 shares in the last quarter. Pennsylvania Trust Co grew its stake in shares of Zimmer Biomet by 9,730.5% in the 1st quarter. Pennsylvania Trust Co now owns 836,676 shares of the medical equipment provider’s stock worth $55,704,000 after buying an additional 828,165 shares in the last quarter. Boston Partners grew its stake in shares of Zimmer Biomet by 61.9% in the 1st quarter. Boston Partners now owns 1,754,479 shares of the medical equipment provider’s stock worth $224,047,000 after buying an additional 670,501 shares in the last quarter. Finally, Primecap Management Co. CA grew its stake in shares of Zimmer Biomet by 29.4% in the 1st quarter. Primecap Management Co. CA now owns 2,463,720 shares of the medical equipment provider’s stock worth $314,617,000 after buying an additional 559,370 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.
In related news, insider Sang Yi sold 426 shares of Zimmer Biomet stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $114.88, for a total transaction of $48,938.88. Following the completion of the sale, the insider now owns 1,457 shares in the company, valued at approximately $167,380.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.72% of the company’s stock.
A number of brokerages have commented on ZBH. Sanford C. Bernstein raised shares of Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price objective for the company in a research note on Tuesday, June 11th. TheStreet cut shares of Zimmer Biomet from a “b-” rating to a “c” rating in a research note on Friday, June 7th. Cantor Fitzgerald set a $135.00 price objective on shares of Zimmer Biomet and gave the stock a “buy” rating in a research note on Friday, April 26th. Needham & Company LLC raised shares of Zimmer Biomet from a “buy” rating to a “strong-buy” rating and lifted their price objective for the stock from $146.00 to $155.00 in a research note on Wednesday, April 24th. Finally, Barclays lifted their price objective on shares of Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $131.41.
ZBH stock opened at $117.45 on Monday. Zimmer Biomet Holdings Inc has a 12 month low of $96.99 and a 12 month high of $134.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.97. The stock has a market cap of $24.05 billion, a P/E ratio of 15.37, a PEG ratio of 2.16 and a beta of 1.17.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Friday, April 26th. The medical equipment provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.01. Zimmer Biomet had a negative net margin of 3.90% and a positive return on equity of 13.24%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the company earned $1.91 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts expect that Zimmer Biomet Holdings Inc will post 7.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.82%. Zimmer Biomet’s payout ratio is 12.57%.
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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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