Biechele Royce Advisors Grows Stake in Zimmer Biomet Holdings Inc (ZBH)

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Biechele Royce Advisors lifted its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 3.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 44,758 shares of the medical equipment provider’s stock after acquiring an additional 1,628 shares during the quarter. Zimmer Biomet comprises 3.7% of Biechele Royce Advisors’ holdings, making the stock its 11th biggest position. Biechele Royce Advisors’ holdings in Zimmer Biomet were worth $5,884,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Zimmer Biomet by 5,200.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,007 shares of the medical equipment provider’s stock worth $112,000 after acquiring an additional 988 shares in the last quarter. Aries Wealth Management acquired a new stake in shares of Zimmer Biomet in the second quarter worth $202,000. Northstar Investment Advisors LLC acquired a new stake in shares of Zimmer Biomet in the third quarter worth $214,000. HighPoint Advisor Group LLC acquired a new stake in shares of Zimmer Biomet in the third quarter worth $202,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new stake in shares of Zimmer Biomet in the third quarter worth $217,000. 86.58% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Bryan C. Hanson bought 410 shares of the business’s stock in a transaction on Friday, August 31st. The shares were bought at an average cost of $123.03 per share, for a total transaction of $50,442.30. Following the completion of the acquisition, the chief executive officer now directly owns 25,487 shares in the company, valued at $3,135,665.61. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Chad F. Phipps sold 30,100 shares of the firm’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $132.37, for a total value of $3,984,337.00. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

ZBH traded down $0.76 during trading on Tuesday, reaching $114.53. 121,808 shares of the stock traded hands, compared to its average volume of 1,162,530. The stock has a market cap of $23.43 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 2.11 and a beta of 1.08. Zimmer Biomet Holdings Inc has a fifty-two week low of $104.28 and a fifty-two week high of $134.55. The company has a current ratio of 1.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 earnings per share. As a group, sell-side analysts forecast that Zimmer Biomet Holdings Inc will post 7.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. Zimmer Biomet’s payout ratio is 11.96%.

Several analysts have recently commented on the company. Needham & Company LLC raised their target price on Zimmer Biomet from $146.00 to $150.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 30th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $150.00 target price on shares of Zimmer Biomet in a research report on Monday, August 27th. Piper Jaffray Companies raised their target price on Zimmer Biomet from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. BTIG Research assumed coverage on Zimmer Biomet in a research report on Thursday, August 16th. They issued a “neutral” rating for the company. Finally, Leerink Swann decreased their target price on Zimmer Biomet from $146.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $133.86.

Zimmer Biomet Company 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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