Jennison Associates LLC Sells 84,893 Shares of Zimmer Biomet Holdings Inc (NYSE:ZBH)

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Jennison Associates LLC reduced its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,011,164 shares of the medical equipment provider’s stock after selling 84,893 shares during the period. Jennison Associates LLC owned about 0.49% of Zimmer Biomet worth $119,054,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ZBH. Boston Partners lifted its holdings in Zimmer Biomet by 61.9% during the 1st quarter. Boston Partners now owns 1,754,479 shares of the medical equipment provider’s stock valued at $224,047,000 after purchasing an additional 670,501 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Zimmer Biomet by 29.4% during the 1st quarter. Primecap Management Co. CA now owns 2,463,720 shares of the medical equipment provider’s stock valued at $314,617,000 after purchasing an additional 559,370 shares during the last quarter. BlackRock Inc. lifted its holdings in Zimmer Biomet by 3.2% during the 1st quarter. BlackRock Inc. now owns 16,474,877 shares of the medical equipment provider’s stock valued at $2,103,841,000 after purchasing an additional 509,160 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Zimmer Biomet by 7.9% during the 1st quarter. OppenheimerFunds Inc. now owns 3,156,333 shares of the medical equipment provider’s stock valued at $403,063,000 after purchasing an additional 231,307 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in Zimmer Biomet by 432.8% during the 2nd quarter. Douglas Lane & Associates LLC now owns 272,699 shares of the medical equipment provider’s stock valued at $32,108,000 after purchasing an additional 221,516 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Chad F. Phipps sold 32,800 shares of Zimmer Biomet stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $140.00, for a total transaction of $4,592,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

Shares of NYSE:ZBH traded down $3.47 during trading on Friday, hitting $133.64. 1,227,611 shares of the company’s stock were exchanged, compared to its average volume of 1,498,252. Zimmer Biomet Holdings Inc has a 1-year low of $96.99 and a 1-year high of $140.53. The firm has a 50-day moving average price of $130.36 and a two-hundred day moving average price of $123.83. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The firm has a market cap of $28.15 billion, a P/E ratio of 17.49, a PEG ratio of 2.45 and a beta of 1.15.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the company earned $1.92 EPS. Zimmer Biomet’s 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 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Thursday, June 27th. Zimmer Biomet’s dividend payout ratio is 12.57%.

Several equities analysts recently issued reports on the stock. TheStreet downgraded shares of Zimmer Biomet from a “b-” rating to a “c” rating in a report on Friday, June 7th. Oppenheimer raised their price objective on shares of Zimmer Biomet from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Jefferies Financial Group raised their price objective 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 objective for the company in a research report on Tuesday, June 11th. Finally, Morgan Stanley raised their price objective on shares of Zimmer Biomet from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Zimmer Biomet currently has an average rating of “Buy” and a consensus price target of $141.56.

About Zimmer Biomet

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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