Massachusetts Financial Services Co. MA trimmed its holdings in shares of Zimmer Biomet (NYSE:ZBH) by 8.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 15,053,800 shares of the medical equipment provider’s stock after selling 1,404,161 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.07% of Zimmer Biomet worth $1,641,467,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the business. Longview Partners Guernsey LTD boosted its holdings in shares of Zimmer Biomet by 6.9% during the 4th quarter. Longview Partners Guernsey LTD now owns 8,027,808 shares of the medical equipment provider’s stock worth $968,716,000 after buying an additional 521,124 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Zimmer Biomet by 5.5% during the 1st quarter. American Century Companies Inc. now owns 5,039,181 shares of the medical equipment provider’s stock worth $549,472,000 after buying an additional 261,784 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Zimmer Biomet by 14.8% during the 4th quarter. OppenheimerFunds Inc. now owns 2,644,596 shares of the medical equipment provider’s stock worth $319,124,000 after buying an additional 340,845 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Zimmer Biomet by 13.1% during the 1st quarter. Wells Fargo & Company MN now owns 2,312,443 shares of the medical equipment provider’s stock worth $252,149,000 after buying an additional 268,068 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 2,175,052 shares of the medical equipment provider’s stock worth $261,927,000 after buying an additional 101,575 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.
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In related news, insider Bryan C. Hanson acquired 25,077 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost of $119.68 per share, for a total transaction of $3,001,215.36. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, VP Tony W. Collins sold 1,330 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $116.73, for a total value of $155,250.90. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.
ZBH has been the topic of a number of research analyst reports. Citigroup cut their price target on Zimmer Biomet from $132.00 to $121.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. ValuEngine cut Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Morgan Stanley cut their target price on Zimmer Biomet from $150.00 to $148.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Robert W. Baird cut Zimmer Biomet from an “outperform” rating to a “neutral” rating in a report on Friday, March 23rd. Finally, Evercore ISI initiated coverage on Zimmer Biomet in a report on Monday, April 2nd. They issued an “in-line” rating and a $115.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $137.71.
Shares of NYSE:ZBH opened at $116.99 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.07 and a debt-to-equity ratio of 0.79. Zimmer Biomet has a 1-year low of $104.28 and a 1-year high of $133.49. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 2.27 and a beta of 1.16.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, April 26th. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. Zimmer Biomet had a return on equity of 14.36% and a net margin of 21.81%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the business earned $2.13 EPS. The business’s revenue was up 2.1% on a year-over-year basis. sell-side analysts forecast that Zimmer Biomet will post 7.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Thursday, March 29th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.82%. The ex-dividend date was Wednesday, March 28th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 11.96%.
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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