Pacer Advisors Inc. Buys 43,841 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Pacer Advisors Inc. grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 741,594 shares of the medical equipment provider’s stock after purchasing an additional 43,841 shares during the quarter. Pacer Advisors Inc. owned about 0.38% of Zimmer Biomet worth $67,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp grew its holdings in Zimmer Biomet by 15,705.6% during the fourth quarter. M&T Bank Corp now owns 3,571,595 shares of the medical equipment provider’s stock worth $321,158,000 after purchasing an additional 3,548,998 shares during the period. Norges Bank bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $221,234,000. Franklin Resources Inc. boosted its position in shares of Zimmer Biomet by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock worth $601,204,000 after acquiring an additional 2,017,857 shares in the last quarter. Auto Owners Insurance Co raised its holdings in shares of Zimmer Biomet by 8,892.0% during the 4th quarter. Auto Owners Insurance Co now owns 2,009,712 shares of the medical equipment provider’s stock worth $180,713,000 after buying an additional 1,987,362 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Zimmer Biomet by 276.6% during the second quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider’s stock worth $118,627,000 after acquiring an additional 955,284 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the insider owned 27,251 shares of the company’s stock, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ZBH. Citizens Jmp dropped their price objective on shares of Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 29th. Stifel Nicolaus decreased their target price on shares of Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Citigroup lowered their price target on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Wells Fargo & Company dropped their price target on Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Finally, Robert W. Baird set a $92.00 price objective on Zimmer Biomet in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.00.

Zimmer Biomet Stock Up 0.3%

Shares of NYSE ZBH opened at $94.20 on Monday. The company has a 50 day simple moving average of $88.84 and a 200 day simple moving average of $89.85. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.73 and a quick ratio of 0.95. Zimmer Biomet Holdings, Inc. has a 1 year low of $79.12 and a 1 year high of $108.29. The firm has a market cap of $18.22 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.77 and a beta of 0.45.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, June 25th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, June 25th. Zimmer Biomet’s payout ratio is 24.94%.

Zimmer Biomet Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.