Janney Montgomery Scott LLC lessened its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,409 shares of the medical equipment provider’s stock after selling 5,588 shares during the period. Janney Montgomery Scott LLC’s holdings in Zimmer Biomet were worth $7,970,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC boosted its holdings in shares of Zimmer Biomet by 207.6% during the 1st quarter. Lindbrook Capital LLC now owns 203 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 137 shares in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of Zimmer Biomet by 176.4% during the 4th quarter. Legacy Financial Advisors Inc. now owns 351 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 224 shares in the last quarter. Clean Yield Group bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $37,000. Horan Capital Advisors LLC. bought a new stake in shares of Zimmer Biomet during the 1st quarter valued at $51,000. Finally, Doyle Wealth Management bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.
In other Zimmer Biomet news, insider Bryan C. Hanson bought 2,100 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was acquired at an average price of $119.02 per share, with a total value of $249,942.00. Following the transaction, the insider now owns 30,615 shares in the company, valued at $3,643,797.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Betsy J. Bernard bought 4,250 shares of the firm’s stock in a transaction on Wednesday, February 6th. The stock was acquired at an average cost of $117.41 per share, with a total value of $498,992.50. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $234,820. The disclosure for this purchase can be found here. In the last three months, insiders acquired 12,860 shares of company stock valued at $1,548,994. 0.72% of the stock is owned by insiders.
Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Friday, April 26th. The medical equipment provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.01. Zimmer Biomet had a positive return on equity of 13.24% and a negative net margin of 3.90%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm earned $1.91 EPS. Zimmer Biomet’s quarterly revenue was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that Zimmer Biomet Holdings Inc will post 7.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, March 28th. Zimmer Biomet’s dividend payout ratio (DPR) is 12.57%.
A number of analysts have recently commented on ZBH shares. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Friday, April 26th. Cantor Fitzgerald set a $135.00 target price on shares of Zimmer Biomet and gave the company a “buy” rating in a report on Friday, January 25th. Stifel Nicolaus dropped their target price on shares of Zimmer Biomet from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 22nd. SunTrust Banks lifted their price target on Zimmer Biomet to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Zimmer Biomet in a research report on Saturday, February 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $130.19.
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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