Investment Counsel Inc. Cuts Stake in Zimmer Biomet Holdings Inc (NYSE:ZBH)

Investment Counsel Inc. lowered its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 24.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,295 shares of the medical equipment provider’s stock after selling 2,000 shares during the period. Investment Counsel Inc.’s holdings in Zimmer Biomet were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ZBH. Lindbrook Capital LLC increased its stake in shares of Zimmer Biomet by 207.6% during the first quarter. Lindbrook Capital LLC now owns 203 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 137 shares in the last quarter. Motco lifted its holdings in shares of Zimmer Biomet by 86.2% in the 1st quarter. Motco now owns 216 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Horan Capital Advisors LLC. acquired a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $51,000. FNY Investment Advisers LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $54,000. Finally, Lenox Wealth Advisors LLC acquired a new position in shares of Zimmer Biomet in the 2nd quarter worth approximately $67,000. 88.57% of the stock is owned by institutional investors and hedge funds.

NYSE ZBH opened at $133.06 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56. The firm has a fifty day moving average of $123.66. The stock has a market cap of $28.28 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 2.47 and a beta of 1.15. Zimmer Biomet Holdings Inc has a 12 month low of $96.99 and a 12 month high of $138.82.

Zimmer Biomet (NYSE:ZBH) last released its 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. Zimmer Biomet had a negative net margin of 4.56% and a positive return on equity of 13.40%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business earned $1.92 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, equities analysts expect that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, June 27th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 12.57%.

ZBH has been the topic of several recent analyst reports. ValuEngine upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Cantor Fitzgerald set a $135.00 target price on shares of Zimmer Biomet and gave the stock a “buy” rating in a report on Friday, April 26th. Sanford C. Bernstein upgraded shares of Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 target price on the stock in a report on Tuesday, June 11th. Morgan Stanley increased their target price on shares of Zimmer Biomet from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Wells Fargo & Co increased their target price on shares of Zimmer Biomet from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Zimmer Biomet has an average rating of “Buy” and an average price target of $140.64.

In related news, insider Sang Yi sold 426 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,457 shares in the company, valued at $167,380.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

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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