Westpac Banking Corp lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 191,026 shares of the medical equipment provider’s stock after selling 1,648 shares during the period. Westpac Banking Corp owned 0.09% of Zimmer Biomet Holdings worth $22,367,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. MARSHALL WACE ASIA Ltd purchased a new stake in Zimmer Biomet Holdings in the 1st quarter worth $38,621,000. Ingalls & Snyder LLC grew its position in shares of Zimmer Biomet Holdings by 2.6% during the third quarter. Ingalls & Snyder LLC now owns 19,675 shares of the medical equipment provider’s stock valued at $2,304,000 after purchasing an additional 507 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Zimmer Biomet Holdings during the first quarter valued at about $403,000. Koch Industries Inc. grew its position in shares of Zimmer Biomet Holdings by 49,697.3% during the second quarter. Koch Industries Inc. now owns 1,040,764 shares of the medical equipment provider’s stock valued at $1,033,000 after purchasing an additional 1,038,674 shares in the last quarter. Finally, Jensen Investment Management Inc. grew its position in shares of Zimmer Biomet Holdings by 24.2% during the second quarter. Jensen Investment Management Inc. now owns 5,850 shares of the medical equipment provider’s stock valued at $751,000 after purchasing an additional 1,140 shares in the last quarter. Institutional investors and hedge funds own 85.26% of the company’s stock.
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Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) traded down 4.77% during mid-day trading on Wednesday, reaching $115.82. 2,278,067 shares of the company’s stock traded hands. Zimmer Biomet Holdings, Inc. has a 12-month low of $95.63 and a 12-month high of $133.49. The stock has a market capitalization of $23.42 billion, a PE ratio of 32.99 and a beta of 1.19. The company’s 50-day moving average price is $118.31 and its 200-day moving average price is $120.47.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its earnings results on Monday, October 30th. The medical equipment provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.79 earnings per share. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post $8.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 22nd were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.96 annualized dividend and a yield of 0.79%. Zimmer Biomet Holdings’s payout ratio is 27.59%.
A number of brokerages have recently weighed in on ZBH. SunTrust Banks, Inc. restated a “buy” rating and set a $136.00 price objective on shares of Zimmer Biomet Holdings in a research report on Monday, October 2nd. Zacks Investment Research upgraded Zimmer Biomet Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Gabelli began coverage on Zimmer Biomet Holdings in a research report on Thursday, August 24th. They set a “buy” rating and a $142.00 price objective for the company. Oppenheimer Holdings, Inc. set a $137.00 price objective on Zimmer Biomet Holdings and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, BidaskClub lowered Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $136.55.
About Zimmer Biomet Holdings
Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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