Insider Selling: James T. Crines Sells 40,768 Shares of Zimmer Holdings Stock (ZMH)
Zimmer Holdings (NYSE:ZMH) CFO James T. Crines sold 40,768 shares of the stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $101.00, for a total value of $4,117,568.00. Following the transaction, the chief financial officer now directly owns 45,214 shares of the company’s stock, valued at approximately $4,566,614. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Zimmer Holdings (NYSE:ZMH) traded down 0.97% on Wednesday, hitting $99.78. The stock had a trading volume of 853,265 shares. Zimmer Holdings has a 52-week low of $78.00 and a 52-week high of $108.33. The stock’s 50-day moving average is $100.2 and its 200-day moving average is $99.2. The company has a market cap of $16.854 billion and a P/E ratio of 22.00. Zimmer Holdings also was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totalling 3,618,867 shares, an increase of 45.8% from the July 31st total of 2,481,338 shares. Based on an average daily volume of 1,375,145 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.2% of the shares of the stock are sold short.
Zimmer Holdings (NYSE:ZMH) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.49 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.49. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $1.43 earnings per share. Zimmer Holdings’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Zimmer Holdings will post $6.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Investors of record on Friday, September 26th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Wednesday, September 24th.
Several analysts have recently commented on the stock. Analysts at William Blair upgraded shares of Zimmer Holdings from a “market perform” rating to an “outperform” rating in a research note on Monday, August 18th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Zimmer Holdings in a research note on Friday, August 8th. They now have a $100.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Zimmer Holdings in a research note on Monday, July 28th. They now have a $95.00 price target on the stock, up previously from $92.00. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Zimmer Holdings presently has an average rating of “Buy” and a consensus target price of $108.40.
Zimmer Holdings, Inc (NYSE:ZMH) designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products.
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