Janney Montgomery Scott LLC lessened its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 38.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,396 shares of the medical equipment provider’s stock after selling 24,013 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Zimmer Biomet were worth $4,521,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Lindbrook Capital LLC lifted its stake in shares of Zimmer Biomet by 207.6% in the 1st quarter. Lindbrook Capital LLC now owns 203 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Motco lifted its stake in shares of Zimmer Biomet by 86.2% in the 1st quarter. Motco now owns 216 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Horan Capital Advisors LLC. bought a new position in shares of Zimmer Biomet in the 1st quarter valued at $51,000. FNY Investment Advisers LLC bought a new position in shares of Zimmer Biomet in the 1st quarter valued at $54,000. Finally, Quantamental Technologies LLC bought a new position in shares of Zimmer Biomet in the 1st quarter valued at $69,000. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
Zimmer Biomet stock traded down $2.33 during trading hours on Wednesday, reaching $135.84. 6,451 shares of the company’s stock were exchanged, compared to its average volume of 1,255,607. 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 moving average price is $126.39. Zimmer Biomet Holdings Inc has a twelve month low of $96.99 and a twelve month high of $140.53. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.47 and a beta of 1.15.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.71%. Zimmer Biomet’s payout ratio is currently 12.57%.
In other Zimmer Biomet news, insider Sang Yi sold 426 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $114.88, for a total transaction of $48,938.88. Following the completion of the sale, the insider now directly owns 1,457 shares in the company, valued at approximately $167,380.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.
A number of research analysts have recently commented on ZBH shares. ValuEngine upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Citigroup increased their price target on Zimmer Biomet from $146.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Cowen set a $140.00 price target on Zimmer Biomet and gave the company a “hold” rating in a research note on Friday, July 26th. Morgan Stanley raised their target price on Zimmer Biomet from $143.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $141.56.
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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