State Street Corp increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,193,165 shares of the medical equipment provider’s stock after buying an additional 191,747 shares during the period. State Street Corp owned about 4.07% of Zimmer Biomet Holdings worth $1,000,463,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ZBH. BlackRock Inc. increased its position in shares of Zimmer Biomet Holdings by 4,042.4% in the first quarter. BlackRock Inc. now owns 16,740,383 shares of the medical equipment provider’s stock valued at $2,044,168,000 after buying an additional 16,336,262 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Zimmer Biomet Holdings by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,041,411 shares of the medical equipment provider’s stock valued at $1,592,488,000 after buying an additional 464,916 shares during the last quarter. Nordea Investment Management AB boosted its stake in Zimmer Biomet Holdings by 25.0% in the first quarter. Nordea Investment Management AB now owns 4,931,281 shares of the medical equipment provider’s stock worth $602,159,000 after buying an additional 987,398 shares in the last quarter. First Manhattan Co. boosted its stake in Zimmer Biomet Holdings by 13.5% in the first quarter. First Manhattan Co. now owns 2,565,370 shares of the medical equipment provider’s stock worth $333,549,000 after buying an additional 305,668 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Zimmer Biomet Holdings by 9.2% in the first quarter. Geode Capital Management LLC now owns 1,918,914 shares of the medical equipment provider’s stock worth $233,979,000 after buying an additional 162,018 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) traded up 0.11% during trading on Friday, hitting $129.61. 912,890 shares of the stock were exchanged. Zimmer Biomet Holdings, Inc. has a 52 week low of $95.63 and a 52 week high of $133.49. The stock’s 50 day moving average price is $127.30 and its 200 day moving average price is $120.33. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of 53.05 and a beta of 1.21.
Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.02. Zimmer Biomet Holdings had a net margin of 6.36% and a return on equity of 16.80%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business posted $2.00 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post $8.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 23rd will be paid a $0.24 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.74%. Zimmer Biomet Holdings’s dividend payout ratio is presently 39.67%.
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A number of research firms have issued reports on ZBH. Morgan Stanley increased their target price on Zimmer Biomet Holdings from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Piper Jaffray Companies reiterated a “buy” rating and set a $141.00 target price on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Stifel Nicolaus restated a “hold” rating and set a $125.00 price objective on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Bank of America Corporation restated a “buy” rating and set a $158.00 price objective on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Finally, Wells Fargo & Company restated a “market weight” rating on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Zimmer Biomet Holdings currently has a consensus rating of “Buy” and a consensus target price of $137.77.
In related news, insider Sang Yi sold 17,731 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Chad F. Phipps sold 6,200 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $116.76, for a total transaction of $723,912.00. The disclosure for this sale can be found here. Insiders sold 111,262 shares of company stock valued at $13,103,927 over the last quarter. Company 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.
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