Zimmer Biomet Holdings Inc (NYSE:ZBH) Shares Sold by Reinhart Partners Inc.

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Reinhart Partners Inc. decreased its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 13.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,557 shares of the medical equipment provider’s stock after selling 900 shares during the period. Reinhart Partners Inc.’s holdings in Zimmer Biomet were worth $763,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Nuveen Asset Management LLC increased its holdings in shares of Zimmer Biomet by 3,725.2% during 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 buying an additional 4,146,991 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Zimmer Biomet by 45.5% during the 2nd quarter. Invesco Ltd. now owns 7,079,312 shares of the medical equipment provider’s stock worth $833,519,000 after buying an additional 2,213,085 shares during the last quarter. Boston Partners increased its holdings in shares of Zimmer Biomet by 120.2% during the 2nd quarter. Boston Partners now owns 3,863,068 shares of the medical equipment provider’s stock worth $454,952,000 after buying an additional 2,108,589 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Zimmer Biomet by 169.1% during 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 buying an additional 571,866 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Zimmer Biomet by 78.6% during the 2nd quarter. Prudential Financial Inc. now owns 1,217,608 shares of the medical equipment provider’s stock worth $143,362,000 after buying an additional 535,814 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

In other news, insider Didier Deltort sold 360 shares of the firm’s 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 sale, the insider now directly owns 1,194 shares in the company, valued at approximately $166,264.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chad F. Phipps sold 32,800 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $140.00, for a total transaction of $4,592,000.00. The disclosure for this sale can be found here. Insiders sold a total of 40,244 shares of company stock worth $5,621,885 over the last 90 days. Company insiders own 0.72% of the company’s stock.

A number of analysts have recently issued reports on ZBH shares. BTIG Research upgraded shares of Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $158.00 price target for the company in a report on Monday, October 7th. Canaccord Genuity raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and increased their price objective for the stock from $137.00 to $167.00 in a research report on Wednesday, September 18th. Royal Bank of Canada increased their price objective on shares of Zimmer Biomet from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays raised shares of Zimmer Biomet from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $117.00 to $140.00 in a research report on Tuesday, July 30th. Finally, Leerink Swann increased their price objective on shares of Zimmer Biomet from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Zimmer Biomet has an average rating of “Buy” and an average price target of $147.95.

ZBH stock traded up $2.07 during midday trading on Friday, hitting $144.00. The company’s stock had a trading volume of 1,024,800 shares, compared to its average volume of 1,183,991. The company has a quick ratio of 0.56, a current ratio of 1.19 and a debt-to-equity ratio of 0.58. Zimmer Biomet Holdings Inc has a 52-week low of $96.99 and a 52-week high of $144.96. The firm has a market capitalization of $28.81 billion, a P/E ratio of 18.85, a PEG ratio of 2.66 and a beta of 1.14. The firm has a 50-day simple moving average of $137.06 and a 200-day simple moving average of $128.64.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.02. Zimmer Biomet had a negative net margin of 1.14% and a positive return on equity of 13.89%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $1.63 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Zimmer Biomet Holdings Inc will post 7.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.67%. Zimmer Biomet’s payout ratio is 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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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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