Oregon Public Employees Retirement Fund reduced its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 3.5% in the first quarter, Holdings Channel reports. The institutional investor owned 21,389 shares of the medical equipment provider’s stock after selling 769 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Zimmer Biomet were worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc lifted its position in Zimmer Biomet by 1.6% in the third quarter. Vanguard Group Inc now owns 14,511,433 shares of the medical equipment provider’s stock valued at $1,907,818,000 after buying an additional 228,894 shares during the last quarter. Reinhart Partners Inc. lifted its position in shares of Zimmer Biomet by 2.1% during the fourth quarter. Reinhart Partners Inc. now owns 6,707 shares of the medical equipment provider’s stock worth $696,000 after purchasing an additional 137 shares in the last quarter. NuWave Investment Management LLC lifted its position in shares of Zimmer Biomet by 6,490.0% during the fourth quarter. NuWave Investment Management LLC now owns 659 shares of the medical equipment provider’s stock worth $68,000 after purchasing an additional 649 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Zimmer Biomet by 69.1% during the fourth quarter. IFP Advisors Inc now owns 2,139 shares of the medical equipment provider’s stock worth $220,000 after purchasing an additional 874 shares in the last quarter. Finally, Monarch Capital Management Inc. lifted its position in shares of Zimmer Biomet by 3.5% during the fourth quarter. Monarch Capital Management Inc. now owns 39,233 shares of the medical equipment provider’s stock worth $4,069,000 after purchasing an additional 1,334 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.
Several brokerages have recently issued reports on ZBH. Needham & Company LLC raised shares of Zimmer Biomet from a “buy” rating to a “strong-buy” rating and increased their price target for the stock from $146.00 to $155.00 in a research report on Wednesday, April 24th. Barclays set a $113.00 price target on shares of Zimmer Biomet and gave the stock a “sell” rating in a research report on Tuesday, February 5th. Oppenheimer reissued a “buy” rating on shares of Zimmer Biomet in a research report on Saturday, February 2nd. Cantor Fitzgerald set a $135.00 price target on shares of Zimmer Biomet and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, TheStreet cut shares of Zimmer Biomet from a “b-” rating to a “c” rating in a research report on Friday, February 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Zimmer Biomet has a consensus rating of “Hold” and an average target price of $130.19.
In related news, Director Syed A. Jafry purchased 1,925 shares of the company’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $125.52 per share, for a total transaction of $241,626.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.
ZBH stock opened at $115.15 on Thursday. The company has a market cap of $23.78 billion, a P/E ratio of 15.07, a PEG ratio of 2.14 and a beta of 1.19. Zimmer Biomet Holdings Inc has a fifty-two week low of $96.99 and a fifty-two week high of $134.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 2.00.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Friday, April 26th. The medical equipment provider reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.01. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Zimmer Biomet had a negative net margin of 3.90% and a positive return on equity of 13.24%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 earnings per share. Analysts anticipate that Zimmer Biomet Holdings Inc will post 7.81 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a $0.24 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.96 annualized dividend and a yield of 0.83%. Zimmer Biomet’s dividend payout ratio is currently 12.57%.
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Zimmer Biomet Company 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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