Metropolitan Life Insurance Co. NY lowered its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 30,443 shares of the medical equipment provider’s stock after selling 855 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Zimmer Biomet were worth $3,393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZBH. PointState Capital LP acquired a new position in shares of Zimmer Biomet during the first quarter valued at about $55,992,000. JPMorgan Chase & Co. raised its holdings in shares of Zimmer Biomet by 4.8% during the first quarter. JPMorgan Chase & Co. now owns 9,826,738 shares of the medical equipment provider’s stock valued at $1,071,511,000 after purchasing an additional 450,979 shares during the period. Fred Alger Management Inc. raised its holdings in shares of Zimmer Biomet by 48.6% during the second quarter. Fred Alger Management Inc. now owns 1,194,763 shares of the medical equipment provider’s stock valued at $133,144,000 after purchasing an additional 390,517 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Zimmer Biomet by 96.7% during the second quarter. Renaissance Technologies LLC now owns 596,000 shares of the medical equipment provider’s stock valued at $66,418,000 after purchasing an additional 293,000 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Zimmer Biomet by 423.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 316,397 shares of the medical equipment provider’s stock valued at $35,259,000 after purchasing an additional 255,897 shares during the period. Hedge funds and other institutional investors own 87.22% of the company’s stock.

In other news, CEO Bryan C. Hanson acquired 410 shares of Zimmer Biomet stock in a transaction on Friday, August 31st. The stock was acquired at an average cost of $123.03 per share, with a total value of $50,442.30. Following the transaction, the chief executive officer now owns 25,487 shares of the company’s stock, valued at approximately $3,135,665.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Tony W. Collins sold 2,778 shares of the company’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $125.77, for a total transaction of $349,389.06. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

NYSE:ZBH opened at $130.07 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.41 and a debt-to-equity ratio of 0.78. The stock has a market cap of $25.68 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. Zimmer Biomet Holdings Inc has a one year low of $104.28 and a one year high of $130.58.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Friday, July 27th. The medical equipment provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.88 by $0.04. Zimmer Biomet had a net margin of 21.67% and a return on equity of 13.53%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. equities analysts predict that Zimmer Biomet Holdings Inc will post 7.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, September 27th. Zimmer Biomet’s payout ratio is 11.96%.

Several equities analysts have recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of Zimmer Biomet from $146.00 to $150.00 and gave the company a “strong-buy” rating in a report on Monday, July 30th. Cantor Fitzgerald reiterated a “buy” rating and set a $150.00 price objective on shares of Zimmer Biomet in a report on Monday, August 27th. Sanford C. Bernstein assumed coverage on shares of Zimmer Biomet in a report on Wednesday, June 27th. They set an “underperform” rating and a $96.00 price objective on the stock. Piper Jaffray Companies upped their price objective on shares of Zimmer Biomet from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Finally, BTIG Research began coverage on shares of Zimmer Biomet in a research report on Thursday, August 16th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. Zimmer Biomet presently has an average rating of “Buy” and a consensus target price of $135.10.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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

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