Glenview Capital Management LLC Purchases New Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Glenview Capital Management LLC purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 771,410 shares of the medical equipment provider’s stock, valued at approximately $94,197,000. Glenview Capital Management LLC owned about 0.38% of Zimmer Biomet Holdings as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Zimmer Biomet Holdings during the first quarter worth about $38,621,000. Cibc World Markets Corp increased its stake in shares of Zimmer Biomet Holdings by 52.9% in the first quarter. Cibc World Markets Corp now owns 21,007 shares of the medical equipment provider’s stock worth $2,565,000 after buying an additional 7,269 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Zimmer Biomet Holdings by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,144 shares of the medical equipment provider’s stock worth $737,000 after buying an additional 450 shares in the last quarter. Auxier Asset Management increased its stake in shares of Zimmer Biomet Holdings by 3.3% in the fourth quarter. Auxier Asset Management now owns 86,514 shares of the medical equipment provider’s stock worth $8,928,000 after buying an additional 2,750 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in shares of Zimmer Biomet Holdings during the first quarter worth about $255,000. Institutional investors own 84.13% of the company’s stock.

Shares of Zimmer Biomet Holdings, Inc. (NYSE ZBH) traded up 0.66% during midday trading on Friday, reaching $117.93. 1,698,086 shares of the company traded hands. Zimmer Biomet Holdings, Inc. has a 12 month low of $95.63 and a 12 month high of $133.49. The company has a 50 day moving average of $127.65 and a 200 day moving average of $121.39. The firm has a market capitalization of $23.80 billion, a P/E ratio of 33.59 and a beta of 1.20.

Zimmer Biomet Holdings (NYSE:ZBH) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $2.02 EPS. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post $8.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 23rd were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.96 annualized dividend and a yield of 0.81%. Zimmer Biomet Holdings’s dividend payout ratio is currently 27.59%.

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A number of research firms recently weighed in on ZBH. Morgan Stanley increased their price objective on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Stifel Nicolaus reissued a “hold” rating and issued a $125.00 price target on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Piper Jaffray Companies reissued a “buy” rating and issued a $141.00 price target on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Canaccord Genuity reissued a “buy” rating and issued a $141.00 price target on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Zimmer Biomet Holdings presently has a consensus rating of “Hold” and an average target price of $137.76.

In related news, VP Tony W. Collins sold 16,986 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $121.74, for a total value of $2,067,875.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sang Yi sold 17,731 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $124.56, for a total value of $2,208,573.36. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Zimmer Biomet Holdings Company Profile

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

Institutional Ownership by Quarter for Zimmer Biomet Holdings (NYSE:ZBH)

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