Sentry Investment Management LLC Decreases Holdings in Zimmer Biomet Holdings Inc (ZBH)
Sentry Investment Management LLC cut its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 38.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,901 shares of the medical equipment provider’s stock after selling 9,947 shares during the quarter. Sentry Investment Management LLC’s holdings in Zimmer Biomet were worth $1,919,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of ZBH. Bank of Nova Scotia Trust Co. bought a new position in Zimmer Biomet in the 3rd quarter worth $112,000. FNY Managed Accounts LLC bought a new position in shares of Zimmer Biomet in the 3rd quarter worth about $117,000. Cerebellum GP LLC bought a new position in shares of Zimmer Biomet in the 4th quarter worth about $133,000. Steward Partners Investment Advisory LLC bought a new position in shares of Zimmer Biomet in the 3rd quarter worth about $140,000. Finally, Chesley Taft & Associates LLC bought a new position in shares of Zimmer Biomet in the 4th quarter worth about $202,000. Institutional investors and hedge funds own 86.36% of the company’s stock.
Several research analysts recently issued reports on the stock. Robert W. Baird reiterated a “buy” rating on shares of Zimmer Biomet in a research note on Wednesday, January 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research note on Monday, February 5th. Stifel Nicolaus upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and increased their price target for the stock from $120.00 to $168.00 in a research note on Wednesday, January 31st. BMO Capital Markets reiterated a “buy” rating and issued a $144.00 price target on shares of Zimmer Biomet in a research note on Tuesday, January 30th. Finally, Leerink Swann increased their price target on shares of Zimmer Biomet from $142.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $141.67.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $2.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.10. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.03 billion. Zimmer Biomet had a net margin of 23.51% and a return on equity of 15.45%. Zimmer Biomet’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $2.14 EPS. equities research analysts predict that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Friday, December 29th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.82%. Zimmer Biomet’s dividend payout ratio is currently 10.65%.
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Zimmer Biomet Profile
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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