Cigna Investments Inc. New cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,803 shares of the medical equipment provider’s stock after selling 383 shares during the period. Cigna Investments Inc. New’s holdings in Zimmer Biomet Holdings were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZBH. Oakbrook Investments LLC purchased a new position in shares of Zimmer Biomet Holdings during the first quarter valued at about $1,010,000. Ledyard National Bank raised its position in shares of Zimmer Biomet Holdings by 9.3% in the first quarter. Ledyard National Bank now owns 1,293 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 110 shares during the last quarter. DnB Asset Management AS raised its position in shares of Zimmer Biomet Holdings by 16.2% in the first quarter. DnB Asset Management AS now owns 22,208 shares of the medical equipment provider’s stock valued at $2,712,000 after buying an additional 3,100 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of Zimmer Biomet Holdings by 3.2% in the first quarter. Farmers & Merchants Investments Inc. now owns 2,555 shares of the medical equipment provider’s stock valued at $312,000 after buying an additional 80 shares during the last quarter. Finally, Heritage Investors Management Corp raised its position in shares of Zimmer Biomet Holdings by 3.6% in the first quarter. Heritage Investors Management Corp now owns 110,855 shares of the medical equipment provider’s stock valued at $13,537,000 after buying an additional 3,837 shares during the last quarter. Institutional investors and hedge funds own 83.62% of the company’s stock.

Shares of Zimmer Biomet Holdings, Inc. (ZBH) opened at 110.13 on Friday. The stock has a market capitalization of $22.22 billion, a P/E ratio of 31.37 and a beta of 1.20. Zimmer Biomet Holdings, Inc. has a 52-week low of $95.63 and a 52-week high of $133.49. The firm has a 50-day moving average price of $125.44 and a 200-day moving average price of $121.28.

Zimmer Biomet Holdings (NYSE:ZBH) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. Zimmer Biomet Holdings’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 earnings per share. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post $8.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet Holdings’s dividend payout ratio is presently 27.59%.

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Several research analysts have issued reports on the company. Morgan Stanley increased their price target on Zimmer Biomet Holdings from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $125.00 price target on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Piper Jaffray Companies reissued a “buy” rating and issued a $141.00 price objective on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Canaccord Genuity reissued a “buy” rating and issued a $141.00 price objective on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $137.76.

In other news, insider Sang Yi sold 17,731 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $124.56, for a total value of $2,208,573.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Tony W. Collins sold 16,986 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $121.74, for a total value of $2,067,875.64. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Zimmer Biomet Holdings (NYSE:ZBH)

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