ST Germain D J Co. Inc. decreased its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,303 shares of the medical equipment provider’s stock after selling 280 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Zimmer Biomet were worth $8,141,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Personal Wealth Partners acquired a new position in Zimmer Biomet in the 2nd quarter valued at $26,000. TRUE Private Wealth Advisors acquired a new position in Zimmer Biomet in the 2nd quarter valued at $26,000. Allworth Financial LP grew its holdings in Zimmer Biomet by 65.0% in the 3rd quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. Coastal Investment Advisors Inc. grew its holdings in Zimmer Biomet by 271.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 187 shares in the last quarter. Finally, Private Ocean LLC grew its holdings in Zimmer Biomet by 34.8% in the 2nd quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 80 shares in the last quarter. 87.85% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Didier Deltort sold 360 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $139.25, for a total transaction of $50,130.00. Following the completion of the sale, the insider now owns 1,194 shares of the company’s stock, valued at $166,264.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Chad F. Phipps sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $138.28, for a total value of $967,960.00. Following the sale, the vice president now directly owns 37,722 shares of the company’s stock, valued at approximately $5,216,198.16. The disclosure for this sale can be found here. In the last three months, insiders sold 40,391 shares of company stock valued at $5,642,274. Insiders own 0.72% of the company’s stock.
A number of brokerages have commented on ZBH. Canaccord Genuity raised Zimmer Biomet from a “hold” rating to a “buy” rating and upped their price objective for the company from $137.00 to $167.00 in a report on Wednesday, September 18th. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Monday, August 12th. Stifel Nicolaus set a $155.00 target price on Zimmer Biomet and gave the company a “buy” rating in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and set a $170.00 target price on shares of Zimmer Biomet in a research report on Wednesday, September 18th. Finally, Morgan Stanley upped their target price on Zimmer Biomet from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $145.40.
Shares of ZBH stock traded up $1.76 on Thursday, hitting $138.34. The company had a trading volume of 21,697 shares, compared to its average volume of 1,054,976. The firm has a market cap of $27.77 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.56 and a beta of 1.16. The stock’s 50-day moving average is $137.31 and its two-hundred day moving average is $127.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.19. Zimmer Biomet Holdings Inc has a twelve month low of $96.99 and a twelve month high of $143.57.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Friday, July 26th. The medical equipment provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.02. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Equities research analysts predict that Zimmer Biomet Holdings Inc will post 7.82 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.69%. Zimmer Biomet’s payout ratio is 12.57%.
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.
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