Poplar Forest Capital LLC Sells 25,700 Shares of Zimmer Biomet Holdings Inc (NYSE:ZBH)

Poplar Forest Capital LLC lowered its position in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,641 shares of the medical equipment provider’s stock after selling 25,700 shares during the period. Zimmer Biomet comprises 3.0% of Poplar Forest Capital LLC’s holdings, making the stock its 19th largest position. Poplar Forest Capital LLC owned 0.17% of Zimmer Biomet worth $41,049,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Zimmer Biomet by 3.2% in the 1st quarter. BlackRock Inc. now owns 16,474,877 shares of the medical equipment provider’s stock valued at $2,103,841,000 after buying an additional 509,160 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in Zimmer Biomet by 7.9% during the 1st quarter. OppenheimerFunds Inc. now owns 3,156,333 shares of the medical equipment provider’s stock worth $403,063,000 after purchasing an additional 231,307 shares in the last quarter. Geode Capital Management LLC increased its holdings in Zimmer Biomet by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 2,641,717 shares of the medical equipment provider’s stock worth $273,516,000 after purchasing an additional 205,532 shares in the last quarter. Primecap Management Co. CA increased its holdings in Zimmer Biomet by 29.4% during the 1st quarter. Primecap Management Co. CA now owns 2,463,720 shares of the medical equipment provider’s stock worth $314,617,000 after purchasing an additional 559,370 shares in the last quarter. Finally, Boston Partners increased its holdings in Zimmer Biomet by 61.9% during the 1st quarter. Boston Partners now owns 1,754,479 shares of the medical equipment provider’s stock worth $224,047,000 after purchasing an additional 670,501 shares in the last quarter. Institutional investors and hedge funds own 87.89% of the company’s stock.

In related news, insider Sang Yi sold 426 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $114.88, for a total value 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 Securities & Exchange Commission, which is available at the SEC website. Also, VP Chad F. Phipps sold 32,800 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $140.00, for a total transaction of $4,592,000.00. The disclosure for this sale can be found here. Insiders sold a total of 33,373 shares of company stock valued at $4,661,328 in the last 90 days. 0.72% of the stock is owned by corporate insiders.



A number of research firms have issued reports on ZBH. Cowen set a $140.00 target price on Zimmer Biomet and gave the stock a “hold” rating in a report on Friday, July 26th. Robert W. Baird upgraded Zimmer Biomet from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $154.00 in a report on Monday, July 29th. Citigroup increased their target price on Zimmer Biomet from $146.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Morgan Stanley increased their target price on Zimmer Biomet from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Oppenheimer increased their target price on Zimmer Biomet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $141.56.

Shares of NYSE ZBH traded up $1.88 during mid-day trading on Friday, hitting $137.01. The company had a trading volume of 827,100 shares, compared to its average volume of 1,535,963. The company has a market capitalization of $27.74 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15. The firm has a 50-day simple moving average of $127.58 and a two-hundred day simple moving average of $123.17. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. Zimmer Biomet Holdings Inc has a one year low of $96.99 and a one year high of $140.53.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Friday, July 26th. The medical equipment provider reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.02. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. Zimmer Biomet’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 EPS. Sell-side analysts expect that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, June 27th. Zimmer Biomet’s payout ratio is 12.57%.

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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