Putnam Investments LLC trimmed its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 165,457 shares of the medical equipment provider’s stock after selling 6,483 shares during the period. Putnam Investments LLC’s holdings in Zimmer Biomet were worth $19,481,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake 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 acquiring an additional 509,160 shares during the period. Vanguard Group Inc. raised its stake in shares of Zimmer Biomet by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,453,961 shares of the medical equipment provider’s stock valued at $1,819,550,000 after acquiring an additional 145,726 shares during the period. Invesco Ltd. raised its stake in shares of Zimmer Biomet by 45.5% in the 2nd quarter. Invesco Ltd. now owns 7,079,312 shares of the medical equipment provider’s stock valued at $833,519,000 after acquiring an additional 2,213,085 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Zimmer Biomet by 7.9% in the 1st quarter. OppenheimerFunds Inc. now owns 3,156,333 shares of the medical equipment provider’s stock valued at $403,063,000 after acquiring an additional 231,307 shares during the period. Finally, Geode Capital Management LLC increased its stake 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 buying an additional 205,532 shares during the period. 87.83% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Chad F. Phipps sold 7,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $138.28, for a total value of $967,960.00. Following the completion of the transaction, the vice president now owns 37,722 shares in the company, valued at approximately $5,216,198.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Didier Deltort sold 360 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $139.25, for a total transaction 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. Over the last three months, insiders sold 40,391 shares of company stock worth $5,642,274. Insiders own 0.72% of the company’s stock.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.02. Zimmer Biomet had a negative net margin of 4.56% and a positive return on equity of 13.40%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm posted $1.92 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. Analysts forecast that Zimmer Biomet Holdings Inc will post 7.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, September 27th. Zimmer Biomet’s dividend payout ratio is presently 12.57%.
Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 target price on shares of Zimmer Biomet in a research note on Wednesday. Barclays raised shares of Zimmer Biomet from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $117.00 to $140.00 in a research note on Tuesday, July 30th. Wells Fargo & Co upped their target price on shares of Zimmer Biomet from $150.00 to $158.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. BTIG Research reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Monday. Finally, Credit Suisse Group upped their target price on shares of Zimmer Biomet from $101.00 to $120.00 and gave the stock an “underperform” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $143.99.
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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