Norway Savings Bank grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,405 shares of the medical equipment provider’s stock after acquiring an additional 170 shares during the quarter. Norway Savings Bank’s holdings in Zimmer Biomet were worth $1,515,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. Fairfield Bush & CO. purchased a new position in Zimmer Biomet during the 1st quarter worth $111,000. United Bank lifted its position in Zimmer Biomet by 4.1% during the 1st quarter. United Bank now owns 11,072 shares of the medical equipment provider’s stock worth $1,416,000 after acquiring an additional 437 shares during the period. Panagora Asset Management Inc. lifted its position in Zimmer Biomet by 153.9% during the 1st quarter. Panagora Asset Management Inc. now owns 9,803 shares of the medical equipment provider’s stock worth $1,254,000 after acquiring an additional 5,942 shares during the period. Aviva PLC lifted its position in Zimmer Biomet by 0.4% during the 1st quarter. Aviva PLC now owns 30,636 shares of the medical equipment provider’s stock worth $3,918,000 after acquiring an additional 137 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Zimmer Biomet by 11.2% during the 1st quarter. Allianz Asset Management GmbH now owns 41,816 shares of the medical equipment provider’s stock worth $5,348,000 after acquiring an additional 4,224 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Zimmer Biomet
In other news, Director Sreelakshmi Kolli purchased 1,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was acquired at an average cost of $120.37 per share, for a total transaction of $120,370.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $120,370. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Michael W. Michelson bought 1,300 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average cost of $115.50 per share, for a total transaction of $150,150.00. Following the completion of the acquisition, the director now owns 3,385 shares in the company, valued at approximately $390,967.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sreelakshmi Kolli bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was bought at an average price of $120.37 per share, with a total value of $120,370.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $120,370. The disclosure for this purchase can be found here. Insiders bought a total of 5,300 shares of company stock worth $619,090 over the last ninety days. Company insiders own 0.95% of the company’s stock.
Zimmer Biomet Trading Down 0.3 %
Zimmer Biomet (NYSE:ZBH – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. Zimmer Biomet had a return on equity of 12.36% and a net margin of 7.03%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business posted $1.82 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.51 EPS for the current year.
Zimmer Biomet Dividend Announcement
The company also recently declared 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 annualized dividend and a dividend yield of 0.79%. Zimmer Biomet’s dividend payout ratio is currently 39.83%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ZBH. StockNews.com began coverage on Zimmer Biomet in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Morgan Stanley restated an “equal weight” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Wednesday, August 2nd. JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of Zimmer Biomet in a research note on Wednesday, August 2nd. BTIG Research upgraded Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $139.00 target price on the stock in a research note on Monday, August 28th. Finally, Barclays increased their price target on Zimmer Biomet from $116.00 to $120.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $145.16.
Zimmer Biomet Company 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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