Westchester Capital Management Inc. boosted its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,457 shares of the medical equipment provider’s stock after buying an additional 1,185 shares during the period. Zimmer Biomet accounts for approximately 3.6% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 16th largest holding. Westchester Capital Management Inc.’s holdings in Zimmer Biomet were worth $9,260,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of ZBH. Personal Wealth Partners acquired a new stake in Zimmer Biomet in the second quarter worth $26,000. TRUE Private Wealth Advisors acquired a new position in shares of Zimmer Biomet during the second quarter valued at $26,000. Allworth Financial LP increased its holdings in shares of Zimmer Biomet by 65.0% during the third quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 80 shares during the period. Coastal Investment Advisors Inc. increased its holdings in shares of Zimmer Biomet by 271.0% during the second quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 187 shares during the period. Finally, Private Ocean LLC increased its holdings in shares of Zimmer Biomet by 34.8% during the second quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 80 shares during the period. 87.72% of the stock is currently owned by hedge funds and other institutional investors.
ZBH stock traded up $2.07 during trading hours on Friday, hitting $144.00. 1,024,800 shares of the stock traded hands, compared to its average volume of 1,183,991. The stock has a 50-day simple moving average of $137.06 and a 200 day simple moving average of $128.64. Zimmer Biomet Holdings Inc has a one year low of $96.99 and a one year high of $144.96. The company has a market cap of $28.81 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.66 and a beta of 1.14. 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 (NYSE:ZBH) last announced its earnings results on Tuesday, November 5th. The medical equipment provider reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.02. Zimmer Biomet had a positive return on equity of 13.89% and a negative net margin of 1.14%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted $1.63 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts forecast that Zimmer Biomet Holdings Inc will post 7.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.96 annualized dividend and a yield of 0.67%. Zimmer Biomet’s dividend payout ratio is currently 12.57%.
In related news, VP Chad F. Phipps sold 7,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $138.28, for a total value of $967,960.00. Following the completion of the transaction, the vice president now owns 37,722 shares in the company, valued at approximately $5,216,198.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Didier Deltort sold 360 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $139.25, for a total value of $50,130.00. Following the completion of the transaction, the insider now owns 1,194 shares of the company’s stock, valued at approximately $166,264.50. The disclosure for this sale can be found here. Insiders have sold 40,244 shares of company stock valued at $5,621,885 in the last ninety days. Company insiders own 0.72% of the company’s stock.
A number of research analysts have recently commented on the company. Stifel Nicolaus set a $155.00 price target on Zimmer Biomet and gave the company a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada raised their price target on Zimmer Biomet from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group raised their price target on Zimmer Biomet from $150.00 to $167.00 and gave the company a “buy” rating in a report on Monday, July 29th. They noted that the move was a valuation call. Morgan Stanley raised their price target on Zimmer Biomet from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Oppenheimer raised their price target on Zimmer Biomet from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Zimmer Biomet presently has an average rating of “Buy” and an average target price of $147.95.
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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