Catawba Capital Management VA Decreases Holdings in Zimmer Biomet Holdings Inc (ZBH)
Catawba Capital Management VA cut its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 3.3% during the 4th quarter, HoldingsChannel reports. The fund owned 42,119 shares of the medical equipment provider’s stock after selling 1,418 shares during the quarter. Zimmer Biomet makes up 1.1% of Catawba Capital Management VA’s investment portfolio, making the stock its 28th biggest position. Catawba Capital Management VA’s holdings in Zimmer Biomet were worth $5,082,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC raised its stake in shares of Zimmer Biomet by 18.6% during the third quarter. Private Advisor Group LLC now owns 6,733 shares of the medical equipment provider’s stock worth $791,000 after acquiring an additional 1,057 shares in the last quarter. Ingalls & Snyder LLC raised its stake in shares of Zimmer Biomet by 2.6% during the third quarter. Ingalls & Snyder LLC now owns 19,675 shares of the medical equipment provider’s stock worth $2,304,000 after acquiring an additional 507 shares in the last quarter. Koch Industries Inc. raised its stake in shares of Zimmer Biomet by 49,697.3% during the second quarter. Koch Industries Inc. now owns 1,040,764 shares of the medical equipment provider’s stock worth $1,033,000 after acquiring an additional 1,038,674 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Zimmer Biomet by 10.0% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,444 shares of the medical equipment provider’s stock worth $1,925,000 after purchasing an additional 1,494 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Zimmer Biomet in the third quarter worth approximately $370,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on ZBH shares. Zacks Investment Research upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. SunTrust Banks restated a “buy” rating and issued a $136.00 target price on shares of Zimmer Biomet in a report on Monday, October 2nd. Piper Jaffray Companies cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating in a report on Thursday, November 2nd. BMO Capital Markets cut their target price on shares of Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Finally, Morgan Stanley cut their target price on shares of Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $137.42.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Zimmer Biomet had a net margin of 8.36% and a return on equity of 16.29%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.79 EPS. analysts predict that Zimmer Biomet Holdings Inc will post 8.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Friday, December 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, December 28th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 29.91%.
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About Zimmer Biomet
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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