Zimmer Biomet Holdings Inc (NYSE:ZBH) Shares Sold by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. trimmed its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 3.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 451,647 shares of the medical equipment provider’s stock after selling 17,067 shares during the period. Pictet Asset Management Ltd. owned about 0.22% of Zimmer Biomet worth $53,177,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of ZBH. Personal Wealth Partners acquired a new stake in Zimmer Biomet during the 2nd quarter worth about $26,000. TRUE Private Wealth Advisors purchased a new position in shares of Zimmer Biomet in the second quarter worth approximately $26,000. Coastal Investment Advisors Inc. raised its holdings in shares of Zimmer Biomet by 271.0% during the second quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 187 shares during the period. Private Ocean LLC raised its holdings in shares of Zimmer Biomet by 34.8% during the second quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 80 shares during the period. Finally, Rational Advisors LLC raised its holdings in shares of Zimmer Biomet by 1,665.2% during the second quarter. Rational Advisors LLC now owns 406 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 383 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.
ZBH traded up $1.18 during trading on Wednesday, reaching $139.70. 32,028 shares of the stock traded hands, compared to its average volume of 902,693. The stock has a market cap of $28.44 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15. Zimmer Biomet Holdings Inc has a fifty-two week low of $96.99 and a fifty-two week high of $140.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56. The stock’s 50-day simple moving average is $136.28 and its two-hundred day simple moving average is $125.26.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.69%. Zimmer Biomet’s dividend payout ratio is currently 12.57%.
In other Zimmer Biomet news, insider Didier Deltort sold 360 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $139.25, for a total value of $50,130.00. Following the completion of the sale, the insider now directly owns 1,194 shares of the company’s stock, valued at $166,264.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chad F. Phipps sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $138.28, for a total transaction of $967,960.00. Following the completion of the sale, the vice president now directly owns 37,722 shares of the company’s stock, valued at $5,216,198.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,391 shares of company stock worth $5,642,274. Insiders own 0.72% of the company’s stock.
A number of research firms recently commented on ZBH. Citigroup raised their price objective on shares of Zimmer Biomet from $146.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Cowen set a $140.00 target price on shares of Zimmer Biomet and gave the company a “hold” rating in a research note on Friday, July 26th. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Monday, August 12th. Barclays upgraded Zimmer Biomet from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $117.00 to $140.00 in a report on Tuesday, July 30th. Finally, Robert W. Baird raised Zimmer Biomet from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $154.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Zimmer Biomet currently has a consensus rating of “Buy” and a consensus target price of $142.26.
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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