QCI Asset Management Inc. NY raised its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,875 shares of the medical equipment provider’s stock after acquiring an additional 1,134 shares during the quarter. Zimmer Biomet makes up 1.8% of QCI Asset Management Inc. NY’s holdings, making the stock its 18th largest holding. QCI Asset Management Inc. NY owned about 0.07% of Zimmer Biomet worth $18,521,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. IFM Investors Pty Ltd lifted its position in shares of Zimmer Biomet by 48.2% during the second quarter. IFM Investors Pty Ltd now owns 9,240 shares of the medical equipment provider’s stock worth $1,030,000 after purchasing an additional 3,006 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Zimmer Biomet by 4.7% during the second quarter. State of Alaska Department of Revenue now owns 32,288 shares of the medical equipment provider’s stock worth $3,597,000 after purchasing an additional 1,460 shares in the last quarter. Pennsylvania Trust Co lifted its position in shares of Zimmer Biomet by 13.8% during the second quarter. Pennsylvania Trust Co now owns 8,687 shares of the medical equipment provider’s stock worth $968,000 after purchasing an additional 1,053 shares in the last quarter. FormulaFolio Investments LLC acquired a new position in shares of Zimmer Biomet during the second quarter worth approximately $786,000. Finally, Regent Investment Management LLC acquired a new position in shares of Zimmer Biomet during the second quarter worth approximately $201,000. 86.28% of the stock is currently owned by institutional investors.
In related news, VP Chad F. Phipps sold 30,100 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $132.37, for a total value of $3,984,337.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Bryan C. Hanson acquired 410 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was acquired at an average price of $123.03 per share, for a total transaction of $50,442.30. Following the completion of the acquisition, the chief executive officer now directly owns 25,487 shares of the company’s stock, 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.
A number of equities analysts have recently issued reports on ZBH shares. Oppenheimer reiterated a “buy” rating on shares of Zimmer Biomet in a research report on Monday, August 27th. Canaccord Genuity upped their target price on shares of Zimmer Biomet from $122.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 30th. Citigroup upped their target price on shares of Zimmer Biomet from $117.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. Robert W. Baird upped their target price on shares of Zimmer Biomet from $121.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Finally, Barclays started coverage on shares of Zimmer Biomet in a research report on Monday, October 15th. They set an “underweight” rating and a $131.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $134.30.
Shares of NYSE ZBH opened at $117.62 on Friday. Zimmer Biomet Holdings Inc has a fifty-two week low of $104.28 and a fifty-two week high of $134.55. The company has a market capitalization of $24.10 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16. The company has a current ratio of 1.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.70.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.03. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business posted $1.72 earnings per share. Zimmer Biomet’s revenue was up 1.3% compared to the same quarter last year. Research analysts predict that Zimmer Biomet Holdings Inc will post 7.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.96 annualized dividend and a yield of 0.82%. Zimmer Biomet’s dividend payout ratio is currently 11.96%.
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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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