Korea Investment CORP Reduces Holdings in Zimmer Biomet Holdings Inc (ZBH)

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Korea Investment CORP decreased its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 84.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,387 shares of the medical equipment provider’s stock after selling 114,500 shares during the period. Korea Investment CORP’s holdings in Zimmer Biomet were worth $2,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of ZBH. PointState Capital LP acquired a new position in shares of Zimmer Biomet in the first quarter worth $55,992,000. JPMorgan Chase & Co. grew its stake in shares of Zimmer Biomet by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 9,826,738 shares of the medical equipment provider’s stock worth $1,071,511,000 after acquiring an additional 450,979 shares in the last quarter. Fred Alger Management Inc. grew its stake in shares of Zimmer Biomet by 48.6% in the second quarter. Fred Alger Management Inc. now owns 1,194,763 shares of the medical equipment provider’s stock worth $133,144,000 after acquiring an additional 390,517 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Zimmer Biomet by 423.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 316,397 shares of the medical equipment provider’s stock worth $35,259,000 after acquiring an additional 255,897 shares in the last quarter. Finally, Darrell & King LLC acquired a new position in shares of Zimmer Biomet in the first quarter worth $17,560,000. Institutional investors and hedge funds own 87.22% of the company’s stock.

NYSE ZBH opened at $130.07 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.41 and a quick ratio of 1.25. Zimmer Biomet Holdings Inc has a 1 year low of $104.28 and a 1 year high of $130.58. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 2.31 and a beta of 1.09.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, July 27th. The medical equipment provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. Zimmer Biomet had a net margin of 21.67% and a return on equity of 13.53%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. Zimmer Biomet’s revenue for the quarter was up 3.0% on a year-over-year basis. sell-side analysts anticipate that Zimmer Biomet Holdings Inc will post 7.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.96 annualized dividend and a yield of 0.74%. Zimmer Biomet’s dividend payout ratio is presently 11.96%.

In related news, CEO Bryan C. Hanson acquired 410 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was bought at an average price of $123.03 per share, for a total transaction of $50,442.30. Following the completion of the purchase, the chief executive officer now directly owns 25,487 shares of the company’s stock, valued at approximately $3,135,665.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Tony W. Collins sold 2,778 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $125.77, for a total transaction of $349,389.06. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

A number of equities analysts recently commented on ZBH shares. ValuEngine downgraded shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a research note on Thursday, June 7th. Raymond James boosted their target price on shares of Zimmer Biomet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research note on Sunday, July 8th. Robert W. Baird boosted their target price on shares of Zimmer Biomet from $121.00 to $132.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Finally, Citigroup boosted their target price on shares of Zimmer Biomet from $117.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $135.10.

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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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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