SevenBridge Financial Group LLC Decreases Stock Holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH)

SevenBridge Financial Group LLC trimmed its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 18.9% during the second quarter, HoldingsChannel reports. The firm owned 1,610 shares of the medical equipment provider’s stock after selling 375 shares during the period. SevenBridge Financial Group LLC’s holdings in Zimmer Biomet were worth $190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Zimmer Biomet by 3.2% during the 1st quarter. BlackRock Inc. now owns 16,474,877 shares of the medical equipment provider’s stock valued at $2,103,841,000 after buying an additional 509,160 shares during the period. OppenheimerFunds Inc. raised its position in shares of Zimmer Biomet by 7.9% during the 1st quarter. OppenheimerFunds Inc. now owns 3,156,333 shares of the medical equipment provider’s stock valued at $403,063,000 after buying an additional 231,307 shares during the period. Geode Capital Management LLC raised its position in shares of Zimmer Biomet by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 2,641,717 shares of the medical equipment provider’s stock valued at $273,516,000 after buying an additional 205,532 shares during the period. Primecap Management Co. CA raised its position in shares of Zimmer Biomet by 29.4% during the 1st quarter. Primecap Management Co. CA now owns 2,463,720 shares of the medical equipment provider’s stock valued at $314,617,000 after buying an additional 559,370 shares during the period. Finally, Boston Partners raised its position in shares of Zimmer Biomet by 61.9% during the 1st quarter. Boston Partners now owns 1,754,479 shares of the medical equipment provider’s stock valued at $224,047,000 after buying an additional 670,501 shares during the period. 88.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ZBH traded up $3.19 during trading on Thursday, hitting $138.32. The company’s stock had a trading volume of 814,718 shares, compared to its average volume of 1,227,929. The firm’s 50 day simple moving average is $121.47. The stock has a market cap of $27.55 billion, a P/E ratio of 18.10, a PEG ratio of 2.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56. Zimmer Biomet Holdings Inc has a fifty-two week low of $96.99 and a fifty-two week high of $136.72.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.02. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. Zimmer Biomet had a negative net margin of 4.56% and a positive return on equity of 13.40%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 earnings per share. On average, equities analysts predict that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.69%. Zimmer Biomet’s dividend payout ratio (DPR) is 12.57%.

Several analysts have recently commented on the stock. TheStreet lowered shares of Zimmer Biomet from a “b-” rating to a “c” rating in a research report on Friday, June 7th. Barclays upgraded shares of Zimmer Biomet from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $117.00 to $140.00 in a report on Tuesday. Credit Suisse Group lifted their target price on shares of Zimmer Biomet from $101.00 to $120.00 and gave the company an “underperform” rating in a report on Monday. Sanford C. Bernstein upgraded shares of Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 target price for the company in a report on Tuesday, June 11th. Finally, Evercore ISI upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $145.00 target price for the company in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Zimmer Biomet presently has a consensus rating of “Buy” and a consensus price target of $139.09.

In other Zimmer Biomet news, insider Sang Yi sold 426 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $114.88, for a total value of $48,938.88. Following the completion of the transaction, the insider now owns 1,457 shares in the company, valued at $167,380.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

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

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