Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Zimmer Biomet Holdings Inc (NYSE:ZBH) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 73,200 shares of the medical equipment provider’s stock, valued at approximately $8,157,000.
Several other institutional investors have also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Zimmer Biomet by 5,200.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,007 shares of the medical equipment provider’s stock worth $112,000 after purchasing an additional 988 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Zimmer Biomet by 8,836.9% during the 1st quarter. Summit Trail Advisors LLC now owns 127,887 shares of the medical equipment provider’s stock worth $128,000 after purchasing an additional 126,456 shares during the last quarter. Adviser Investments LLC acquired a new position in shares of Zimmer Biomet during the 1st quarter worth about $144,000. Regent Investment Management LLC acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth about $201,000. Finally, Azimuth Capital Management LLC acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth about $201,000. Institutional investors and hedge funds own 87.18% of the company’s stock.
Zimmer Biomet stock opened at $127.37 on Tuesday. Zimmer Biomet Holdings Inc has a 1-year low of $104.28 and a 1-year high of $134.55. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.41 and a quick ratio of 1.25. The company has a market capitalization of $26.75 billion, a PE ratio of 15.86, a PEG ratio of 2.41 and a beta of 1.08.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.75%. Zimmer Biomet’s dividend payout ratio (DPR) is 11.96%.
Several research firms recently weighed in on ZBH. Argus downgraded shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. Piper Jaffray Companies upped their price target on shares of Zimmer Biomet from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Zacks Investment Research cut shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. ValuEngine raised shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Jefferies Financial Group upped their price objective on shares of Zimmer Biomet to $145.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. Zimmer Biomet has an average rating of “Buy” and an average price target of $135.10.
In other news, VP Tony W. Collins sold 2,778 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $125.77, for a total value of $349,389.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bryan C. Hanson purchased 410 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was purchased at an average cost of $123.03 per share, with a total value of $50,442.30. Following the purchase, the chief executive officer now owns 25,487 shares in the company, valued at $3,135,665.61. The disclosure for this purchase can be found here. Corporate insiders own 0.71% of the company’s stock.
Zimmer Biomet 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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