Palisade Asset Management LLC acquired a new position in Zimmer Biomet Holdings Inc (NYSE:ZBH) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,500 shares of the medical equipment provider’s stock, valued at approximately $206,000.
A number of other large investors have also recently made changes to their positions in the stock. Personal Wealth Partners bought a new stake in Zimmer Biomet during the 2nd quarter valued at $26,000. TRUE Private Wealth Advisors acquired a new stake in shares of Zimmer Biomet in the 2nd quarter worth $26,000. Allworth Financial LP boosted its position in shares of Zimmer Biomet by 65.0% in the 3rd quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Coastal Investment Advisors Inc. boosted its position in shares of Zimmer Biomet by 271.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 187 shares in the last quarter. Finally, Private Ocean LLC boosted its position in shares of Zimmer Biomet by 34.8% in the 2nd quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 80 shares in the last quarter. 87.85% of the stock is currently owned by institutional investors.
Shares of NYSE ZBH traded down $0.54 during trading on Friday, reaching $137.97. 17,684 shares of the company traded hands, compared to its average volume of 1,060,579. The firm’s fifty day simple moving average is $137.39 and its 200 day simple moving average is $127.43. The stock has a market cap of $28.31 billion, a P/E ratio of 18.06, a PEG ratio of 2.61 and a beta of 1.16. Zimmer Biomet Holdings Inc has a 12-month low of $96.99 and a 12-month high of $143.57. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.70%. Zimmer Biomet’s dividend payout ratio is presently 12.57%.
In related news, VP Chad F. Phipps sold 32,800 shares of Zimmer Biomet stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $140.00, for a total value of $4,592,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Deltort sold 360 shares of Zimmer Biomet stock in a transaction dated 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 transaction, the insider now owns 1,194 shares of the company’s stock, valued at approximately $166,264.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,391 shares of company stock valued at $5,642,274. 0.72% of the stock is owned by company insiders.
ZBH has been the subject of a number of recent analyst reports. Robert W. Baird raised Zimmer Biomet from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $154.00 in a research report on Monday, July 29th. Zacks Investment Research upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $149.00 target price for the company in a research note on Saturday, August 31st. Credit Suisse Group raised their target price on Zimmer Biomet from $101.00 to $120.00 and gave the stock an “underperform” rating in a research note on Monday, July 29th. Canaccord Genuity upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and raised their target price for the stock from $137.00 to $167.00 in a research note on Wednesday, September 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $170.00 target price on shares of Zimmer Biomet in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $145.40.
Zimmer Biomet Profile
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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