Northpointe Capital LLC cut its position in shares of Zimmer Biomet Holdings Inc. (NYSE:ZBH) by 42.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,714 shares of the company’s stock after selling 14,056 shares during the period. Northpointe Capital LLC’s holdings in Zimmer Biomet Holdings were worth $2,253,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZBH. NN Investment Partners Holdings N.V. acquired a new position in Zimmer Biomet Holdings during the first quarter worth $42,048,000. Atalanta Sosnoff Capital LLC acquired a new position in Zimmer Biomet Holdings during the second quarter worth $42,984,000. Adage Capital Partners GP L.L.C. raised its position in Zimmer Biomet Holdings by 36.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 894,005 shares of the company’s stock worth $95,328,000 after buying an additional 238,107 shares during the period. JPMorgan Chase & Co. raised its position in Zimmer Biomet Holdings by 47.2% in the first quarter. JPMorgan Chase & Co. now owns 723,945 shares of the company’s stock worth $77,196,000 after buying an additional 232,266 shares during the period. Finally, Nordea Investment Management AB raised its position in Zimmer Biomet Holdings by 5.9% in the second quarter. Nordea Investment Management AB now owns 4,087,633 shares of the company’s stock worth $492,069,000 after buying an additional 226,480 shares during the period. 88.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zimmer Biomet Holdings Inc. (NYSE:ZBH) traded up 0.18% during trading on Thursday, reaching $130.79. 679,956 shares of the company traded hands. The company’s 50-day moving average price is $127.94 and its 200-day moving average price is $121.11. Zimmer Biomet Holdings Inc. has a 52 week low of $88.27 and a 52 week high of $133.19. The company has a market capitalization of $26.16 billion, a P/E ratio of 119.44 and a beta of 0.95.
Zimmer Biomet Holdings (NYSE:ZBH) last released its earnings results on Thursday, July 28th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.05. Zimmer Biomet Holdings had a net margin of 1.68% and a return on equity of 16.12%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the business earned $1.58 EPS. The firm’s revenue was up 65.6% compared to the same quarter last year. Equities research analysts forecast that Zimmer Biomet Holdings Inc. will post $7.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 23rd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Wednesday, September 21st. Zimmer Biomet Holdings’s payout ratio is 157.38%.
ZBH has been the topic of a number of recent research reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $125.00 price objective on shares of Zimmer Biomet Holdings in a research note on Tuesday, June 21st. Jefferies Group reissued a “buy” rating and set a $150.00 price target on shares of Zimmer Biomet Holdings in a research report on Monday, August 8th. Argus reissued a “buy” rating and set a $140.00 price target on shares of Zimmer Biomet Holdings in a research report on Thursday, September 22nd. Guggenheim began coverage on shares of Zimmer Biomet Holdings in a research report on Wednesday, June 8th. They set a “neutral” rating on the stock. Finally, Barclays PLC raised their price target on shares of Zimmer Biomet Holdings from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $132.36.
In other Zimmer Biomet Holdings news, insider Daniel E. Williamson sold 2,716 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $129.96, for a total transaction of $352,971.36. Following the sale, the insider now owns 2,000 shares in the company, valued at approximately $259,920. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stuart G. Kleopfer sold 533 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $132.71, for a total transaction of $70,734.43. Following the sale, the insider now owns 6,397 shares in the company, valued at approximately $848,945.87. The disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.
About Zimmer Biomet Holdings
Zimmer Biomet Holdings, Inc, formerly Zimmer Holdings, Inc, is engaged designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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