Velanne Asset Management Ltd grew its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 4.1% during the 1st quarter, Holdings Channel reports. The firm owned 91,736 shares of the medical equipment provider’s stock after buying an additional 3,612 shares during the period. Zimmer Biomet comprises about 8.1% of Velanne Asset Management Ltd’s investment portfolio, making the stock its biggest position. Velanne Asset Management Ltd’s holdings in Zimmer Biomet were worth $11,715,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Zimmer Biomet by 1.0% during the 4th quarter. BlackRock Inc. now owns 15,965,717 shares of the medical equipment provider’s stock worth $1,655,964,000 after acquiring an additional 153,188 shares during the last quarter. Vanguard Group Inc. boosted its stake in Zimmer Biomet by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 14,511,433 shares of the medical equipment provider’s stock valued at $1,907,818,000 after purchasing an additional 228,894 shares during the period. Vanguard Group Inc boosted its stake in Zimmer Biomet by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 14,511,433 shares of the medical equipment provider’s stock valued at $1,907,818,000 after purchasing an additional 228,894 shares during the period. JPMorgan Chase & Co. boosted its stake in Zimmer Biomet by 9.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,595,444 shares of the medical equipment provider’s stock valued at $1,524,453,000 after purchasing an additional 1,033,717 shares during the period. Finally, American Century Companies Inc. boosted its stake in Zimmer Biomet by 23.1% in the 4th quarter. American Century Companies Inc. now owns 5,425,619 shares of the medical equipment provider’s stock valued at $562,745,000 after purchasing an additional 1,016,489 shares during the period. 89.82% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Syed A. Jafry bought 1,925 shares of the stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $125.52 per share, with a total value of $241,626.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Betsy J. Bernard bought 4,250 shares of the stock in a transaction on Wednesday, February 6th. The stock was purchased at an average cost of $117.41 per share, with a total value of $498,992.50. Following the acquisition, the director now owns 2,000 shares in the company, valued at $234,820. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 12,860 shares of company stock valued at $1,548,994. Corporate insiders own 0.72% of the company’s stock.
Shares of NYSE:ZBH traded down $4.26 during trading on Wednesday, reaching $121.26. 28,284 shares of the company traded hands, compared to its average volume of 1,145,136. The company has a market cap of $26.17 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.25 and a beta of 1.23. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.90 and a current ratio of 1.83. Zimmer Biomet Holdings Inc has a 52 week low of $96.99 and a 52 week high of $134.55.
Zimmer Biomet (NYSE:ZBH) last released its earnings results on Friday, February 1st. The medical equipment provider reported $2.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.18. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a positive return on equity of 13.17% and a negative net margin of 4.78%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 EPS. Research analysts predict that Zimmer Biomet Holdings Inc will post 7.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet’s payout ratio is 12.57%.
Several analysts recently issued reports on ZBH shares. Zacks Investment Research downgraded Zimmer Biomet from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup upgraded Zimmer Biomet from a “neutral” rating to a “buy” rating and boosted their price target for the company from $122.00 to $127.00 in a research note on Wednesday, January 2nd. Evercore ISI upgraded Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $145.00 price target for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. downgraded Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $118.00 in a research note on Wednesday, December 19th. Finally, Stifel Nicolaus reduced their price target on Zimmer Biomet from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 22nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $129.95.
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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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