HL Financial Services LLC Sells 360 Shares of Zimmer Biomet Holdings, Inc. (ZBH)
HL Financial Services LLC reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,837 shares of the medical equipment provider’s stock after selling 360 shares during the period. HL Financial Services LLC’s holdings in Zimmer Biomet Holdings were worth $1,648,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ZBH. MARSHALL WACE ASIA Ltd bought a new stake in Zimmer Biomet Holdings during the first quarter valued at about $38,621,000. Cibc World Markets Corp increased its stake in Zimmer Biomet Holdings by 52.9% in the first quarter. Cibc World Markets Corp now owns 21,007 shares of the medical equipment provider’s stock valued at $2,565,000 after buying an additional 7,269 shares during the period. Caxton Associates LP bought a new stake in Zimmer Biomet Holdings during the first quarter valued at about $403,000. Koch Industries Inc. bought a new stake in Zimmer Biomet Holdings during the first quarter valued at about $255,000. Finally, Israel Discount Bank of New York bought a new stake in Zimmer Biomet Holdings during the first quarter valued at about $721,000. Hedge funds and other institutional investors own 83.62% of the company’s stock.
Zimmer Biomet Holdings, Inc. (ZBH) opened at 112.86 on Thursday. The firm has a 50-day moving average price of $125.96 and a 200 day moving average price of $121.36. Zimmer Biomet Holdings, Inc. has a 12-month low of $95.63 and a 12-month high of $133.49. The firm has a market cap of $22.78 billion, a PE ratio of 32.14 and a beta of 1.20.
Zimmer Biomet Holdings (NYSE:ZBH) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by $0.02. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post $8.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio is presently 27.59%.
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Several research firms have recently issued reports on ZBH. Stifel Nicolaus reiterated a “hold” rating and set a $125.00 price target on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Needham & Company LLC upped their price target on Zimmer Biomet Holdings from $151.00 to $153.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. set a $132.00 price target on Zimmer Biomet Holdings and gave the stock a “buy” rating in a research note on Friday, April 28th. Zacks Investment Research downgraded Zimmer Biomet Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, BMO Capital Markets reiterated a “buy” rating and set a $136.00 price target on shares of Zimmer Biomet Holdings in a research note on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Zimmer Biomet Holdings presently has a consensus rating of “Hold” and an average price target of $137.76.
In other news, VP Tony W. Collins sold 16,986 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $121.74, for a total transaction of $2,067,875.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sang Yi sold 17,731 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.
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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