Tdam USA Inc. Cuts Stake in Zimmer Biomet Holdings Inc (NYSE:ZBH)

Tdam USA Inc. lowered its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,229 shares of the medical equipment provider’s stock after selling 764 shares during the period. Tdam USA Inc.’s holdings in Zimmer Biomet were worth $2,029,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ZBH. Dimensional Fund Advisors LP increased its position in Zimmer Biomet by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,076,723 shares of the medical equipment provider’s stock worth $111,669,000 after purchasing an additional 77,026 shares in the last quarter. Geode Capital Management LLC increased its position in Zimmer Biomet by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 2,641,717 shares of the medical equipment provider’s stock worth $273,516,000 after purchasing an additional 205,532 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Zimmer Biomet during the 1st quarter worth approximately $960,000. Louisiana State Employees Retirement System increased its position in Zimmer Biomet by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the medical equipment provider’s stock worth $1,379,000 after purchasing an additional 100 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in Zimmer Biomet by 1.4% during the 1st quarter. Retirement Systems of Alabama now owns 95,193 shares of the medical equipment provider’s stock worth $12,156,000 after purchasing an additional 1,354 shares in the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Cowen set a $140.00 price objective on shares of Zimmer Biomet and gave the stock a “hold” rating in a research report on Friday, July 26th. Cantor Fitzgerald set a $135.00 price target on shares of Zimmer Biomet and gave the company a “buy” rating in a research report on Friday, April 26th. Jefferies Financial Group upped their price target on shares of Zimmer Biomet from $150.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Sanford C. Bernstein upgraded shares of Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price target for the company in a research report on Tuesday, June 11th. Finally, Needham & Company LLC upgraded shares of Zimmer Biomet from a “buy” rating to a “strong-buy” rating and upped their price target for the company from $146.00 to $155.00 in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $141.56.

In other news, insider Sang Yi sold 426 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $114.88, for a total value of $48,938.88. Following the sale, the insider now directly owns 1,457 shares of the company’s stock, valued at approximately $167,380.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Shares of NYSE:ZBH traded down $3.86 during trading on Wednesday, reaching $134.31. The stock had a trading volume of 34,843 shares, compared to its average volume of 1,255,607. The business’s fifty day moving average is $126.39. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. Zimmer Biomet Holdings Inc has a 52 week low of $96.99 and a 52 week high of $140.53. The stock has a market capitalization of $28.40 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.15.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm posted $1.92 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts predict that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current year.

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, June 27th. Zimmer Biomet’s dividend payout ratio is currently 12.57%.

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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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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