Enlightenment Research LLC raised its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 6.7% in the first quarter, HoldingsChannel.com reports. The fund owned 1,600 shares of the medical equipment provider’s stock after acquiring an additional 100 shares during the period. Enlightenment Research LLC’s holdings in Zimmer Biomet were worth $204,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of Zimmer Biomet by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 11,595,444 shares of the medical equipment provider’s stock valued at $1,524,453,000 after buying an additional 1,033,717 shares during the last quarter. Standard Life Aberdeen plc lifted its position in Zimmer Biomet by 4.9% during the third quarter. Standard Life Aberdeen plc now owns 101,239 shares of the medical equipment provider’s stock valued at $13,310,000 after purchasing an additional 4,718 shares during the period. Legal & General Group Plc lifted its position in Zimmer Biomet by 5.9% during the third quarter. Legal & General Group Plc now owns 1,041,748 shares of the medical equipment provider’s stock valued at $136,922,000 after purchasing an additional 58,022 shares during the period. Marshall Wace LLP acquired a new position in Zimmer Biomet during the third quarter valued at $1,694,000. Finally, Federated Investors Inc. PA lifted its position in Zimmer Biomet by 2.2% during the third quarter. Federated Investors Inc. PA now owns 76,287 shares of the medical equipment provider’s stock valued at $10,029,000 after purchasing an additional 1,636 shares during the period. 89.64% of the stock is owned by institutional investors.
In related news, Director Arthur J. Higgins purchased 500 shares of Zimmer Biomet stock in a transaction that occurred on Friday, February 15th. The stock was purchased at an average price of $123.28 per share, for a total transaction of $61,640.00. Following the transaction, the director now directly owns 2,400 shares in the company, valued at $295,872. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael J. Farrell purchased 2,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, February 13th. The shares were bought at an average price of $123.62 per share, with a total value of $247,240.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $247,240. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 4,425 shares of company stock valued at $550,506. Insiders own 0.72% of the company’s stock.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Friday, April 26th. The medical equipment provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.01. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Zimmer Biomet had a negative net margin of 3.90% and a positive return on equity of 13.24%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.91 earnings per share. On average, sell-side analysts predict that Zimmer Biomet Holdings Inc will post 7.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.24 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 12.57%.
A number of research analysts recently issued reports on ZBH shares. Cantor Fitzgerald restated an “overweight” rating on shares of Zimmer Biomet in a research report on Tuesday, January 15th. Stifel Nicolaus decreased their target price on shares of Zimmer Biomet from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, January 22nd. Oppenheimer restated a “buy” rating on shares of Zimmer Biomet in a research report on Saturday, February 2nd. TheStreet downgraded shares of Zimmer Biomet from a “b-” rating to a “c” rating in a research report on Friday, February 1st. Finally, SunTrust Banks boosted their target price on shares of Zimmer Biomet to $135.00 and gave the company a “buy” rating in a research report on Tuesday, February 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $130.19.
About Zimmer Biomet
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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