Kirr Marbach & Co. LLC IN boosted its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,887 shares of the medical equipment provider’s stock after buying an additional 511 shares during the period. Zimmer Biomet makes up about 2.5% of Kirr Marbach & Co. LLC IN’s investment portfolio, making the stock its 16th largest holding. Kirr Marbach & Co. LLC IN’s holdings in Zimmer Biomet were worth $10,417,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of ZBH. Nuveen Asset Management LLC increased its holdings in shares of Zimmer Biomet by 3,725.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,258,315 shares of the medical equipment provider’s stock worth $501,374,000 after purchasing an additional 4,146,991 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Zimmer Biomet by 45.5% in the 2nd quarter. Invesco Ltd. now owns 7,079,312 shares of the medical equipment provider’s stock worth $833,519,000 after purchasing an additional 2,213,085 shares in the last quarter. Boston Partners increased its holdings in shares of Zimmer Biomet by 120.2% in the 2nd quarter. Boston Partners now owns 3,863,068 shares of the medical equipment provider’s stock worth $454,952,000 after purchasing an additional 2,108,589 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Zimmer Biomet by 169.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 910,134 shares of the medical equipment provider’s stock worth $107,159,000 after purchasing an additional 571,866 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Zimmer Biomet by 78.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,217,608 shares of the medical equipment provider’s stock worth $143,362,000 after purchasing an additional 535,814 shares in the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on ZBH. Needham & Company LLC reissued a “buy” rating and issued a $170.00 target price on shares of Zimmer Biomet in a report on Wednesday, September 18th. Barclays raised Zimmer Biomet from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $117.00 to $140.00 in a report on Tuesday, July 30th. Oppenheimer lifted their target price on Zimmer Biomet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Morgan Stanley lifted their target price on Zimmer Biomet from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Cowen set a $140.00 target price on Zimmer Biomet and gave the stock a “buy” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $145.40.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.02. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. Zimmer Biomet’s revenue was down .9% compared to the same quarter last year. As a group, analysts anticipate that Zimmer Biomet Holdings Inc will post 7.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, September 27th. This represents a $0.96 annualized dividend and a yield of 0.69%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 12.57%.
In related news, VP Chad F. Phipps sold 32,800 shares of Zimmer Biomet stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $140.00, for a total transaction of $4,592,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Didier Deltort sold 360 shares of Zimmer Biomet stock in a transaction on Friday, September 6th. The shares were sold at an average price of $139.25, for a total value of $50,130.00. Following the transaction, the insider now owns 1,194 shares in the company, valued at $166,264.50. The disclosure for this sale can be found here. Insiders have sold 40,391 shares of company stock worth $5,642,274 over the last quarter. 0.72% of the stock is owned by company insiders.
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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