National Pension Service Buys 3,199 Shares of Zimmer Biomet Holdings Inc (NYSE:ZBH)
National Pension Service increased its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,017 shares of the medical equipment provider’s stock after buying an additional 3,199 shares during the quarter. National Pension Service owned 0.14% of Zimmer Biomet worth $29,113,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ZBH. State Street Corp increased its holdings in shares of Zimmer Biomet by 0.5% during the first quarter. State Street Corp now owns 8,542,497 shares of the medical equipment provider’s stock worth $865,503,000 after buying an additional 42,671 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $792,404,000. Primecap Management Co. CA grew its position in Zimmer Biomet by 16.7% during the 1st quarter. Primecap Management Co. CA now owns 3,422,040 shares of the medical equipment provider’s stock worth $345,900,000 after acquiring an additional 489,120 shares during the last quarter. Geode Capital Management LLC increased its holdings in Zimmer Biomet by 0.8% during the 1st quarter. Geode Capital Management LLC now owns 3,235,466 shares of the medical equipment provider’s stock valued at $326,411,000 after purchasing an additional 25,219 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in Zimmer Biomet by 100.2% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,561,011 shares of the medical equipment provider’s stock valued at $383,332,000 after purchasing an additional 1,282,082 shares during the last quarter. 88.11% of the stock is owned by institutional investors.
ZBH has been the subject of a number of research reports. Needham & Company LLC lowered their target price on Zimmer Biomet from $153.00 to $148.00 and set a “strong-buy” rating for the company in a research note on Monday, May 11th. Evercore ISI downgraded shares of Zimmer Biomet from an “outperform” rating to an “in-line” rating in a research note on Sunday, April 19th. Citigroup raised their price target on shares of Zimmer Biomet from $125.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Canaccord Genuity boosted their target price on Zimmer Biomet from $135.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Wells Fargo & Co increased their price objective on shares of Zimmer Biomet from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $147.72.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.17. Zimmer Biomet had a net margin of 4.84% and a return on equity of 13.29%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the firm posted $1.87 earnings per share. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, analysts forecast that Zimmer Biomet Holdings Inc will post 3.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.96 annualized dividend and a yield of 0.84%. Zimmer Biomet’s dividend payout ratio is currently 12.20%.
In other news, insider Sang Yi sold 3,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.38, for a total transaction of $376,140.00. Following the transaction, the insider now owns 2,506 shares in the company, valued at $314,202.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bryan C. Hanson acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $113.00 per share, for a total transaction of $113,000.00. Following the transaction, the chief executive officer now directly owns 54,568 shares in the company, valued at $6,166,184. The disclosure for this purchase can be found here. Insiders own 0.44% of the company’s stock.
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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