Fmr LLC lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 32.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,124,252 shares of the medical equipment provider’s stock after purchasing an additional 277,193 shares during the quarter. Fmr LLC owned about 0.54% of Zimmer Biomet worth $145,253,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ZBH. Cutler Group LLC CA purchased a new position in Zimmer Biomet during the first quarter worth about $25,000. Clear Street Markets LLC purchased a new position in Zimmer Biomet during the fourth quarter worth about $27,000. Orion Capital Management LLC boosted its stake in Zimmer Biomet by 234.7% during the first quarter. Orion Capital Management LLC now owns 251 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 176 shares during the period. Horizon Bancorp Inc. IN purchased a new position in Zimmer Biomet during the fourth quarter worth about $38,000. Finally, CoreCap Advisors LLC purchased a new position in Zimmer Biomet during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.
Insider Transactions at Zimmer Biomet
In other Zimmer Biomet news, Director Michael W. Michelson bought 1,300 shares of the stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of $115.50 per share, for a total transaction of $150,150.00. Following the completion of the transaction, the director now owns 3,385 shares in the company, valued at approximately $390,967.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Sreelakshmi Kolli acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were purchased at an average cost of $120.37 per share, for a total transaction of $120,370.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $120,370. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael W. Michelson acquired 1,300 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average price of $115.50 per share, for a total transaction of $150,150.00. Following the completion of the transaction, the director now owns 3,385 shares in the company, valued at $390,967.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 5,300 shares of company stock worth $619,090. Insiders own 0.95% of the company’s stock.
Zimmer Biomet Stock Performance
Zimmer Biomet (NYSE:ZBH – Get Free Report) last announced its earnings results on Tuesday, August 1st. The medical equipment provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.83 billion. Zimmer Biomet had a net margin of 7.03% and a return on equity of 12.36%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.51 EPS for the current fiscal year.
Zimmer Biomet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 39.83%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on ZBH shares. TheStreet lowered shares of Zimmer Biomet from a “b-” rating to a “c+” rating in a research note on Friday, August 25th. 888 reaffirmed a “maintains” rating on shares of Zimmer Biomet in a research note on Thursday, May 18th. 22nd Century Group reissued a “maintains” rating on shares of Zimmer Biomet in a research report on Thursday, May 18th. BTIG Research raised shares of Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $139.00 price target on the stock in a research report on Monday, August 28th. Finally, UBS Group increased their price target on shares of Zimmer Biomet from $116.00 to $125.00 in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $145.16.
Check Out Our Latest Stock Analysis on Zimmer Biomet
Zimmer Biomet Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.
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