Investors Buy Zimmer Biomet Holdings Inc. (ZBH) on Weakness
Traders purchased shares of Zimmer Biomet Holdings Inc. (NYSE:ZBH) on weakness during trading on Friday. $61.95 million flowed into the stock on the tick-up and $38.88 million flowed out of the stock on the tick-down, for a money net flow of $23.07 million into the stock. Of all companies tracked, Zimmer Biomet Holdings had the 18th highest net in-flow for the day. Zimmer Biomet Holdings traded down ($0.81) for the day and closed at $124.48
ZBH has been the subject of a number of analyst reports. Morgan Stanley reaffirmed a “buy” rating on shares of Zimmer Biomet Holdings in a research report on Saturday, April 30th. Zacks Investment Research cut Zimmer Biomet Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Sterne Agee CRT reaffirmed a “buy” rating on shares of Zimmer Biomet Holdings in a research report on Monday, May 16th. Jefferies Group reaffirmed a “buy” rating and issued a $135.00 price target on shares of Zimmer Biomet Holdings in a research report on Wednesday, June 8th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $132.00 price target on shares of Zimmer Biomet Holdings in a research report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the stock. Zimmer Biomet Holdings presently has a consensus rating of “Buy” and an average target price of $124.95.
The firm has a market cap of $24.80 billion and a price-to-earnings ratio of 306.60. The company has a 50-day moving average of $120.95 and a 200 day moving average of $110.07.
Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings data on Thursday, April 28th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.07. The firm earned $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. The business’s revenue was up 67.8% compared to the same quarter last year. During the same period last year, the business earned $1.54 earnings per share. On average, analysts anticipate that Zimmer Biomet Holdings Inc. will post $7.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, June 24th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.77%.
In other Zimmer Biomet Holdings news, insider Stuart G. Kleopfer sold 11,000 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $119.45, for a total transaction of $1,313,950.00. Following the sale, the insider now owns 7,609 shares of the company’s stock, valued at $908,895.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel P. Florin sold 15,000 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $124.98, for a total transaction of $1,874,700.00. Following the sale, the chief financial officer now directly owns 16,983 shares in the company, valued at approximately $2,122,535.34. The disclosure for this sale can be found here.
Several hedge funds recently bought and sold shares of the company. Utah Retirement Systems bought a new stake in Zimmer Biomet Holdings during the fourth quarter worth $3,134,000. Poplar Forest Capital LLC bought a new stake in Zimmer Biomet Holdings during the fourth quarter worth $21,384,000. KBC Group NV bought a new stake in Zimmer Biomet Holdings during the fourth quarter worth $7,000,000. State of Tennessee Treasury Department bought a new stake in Zimmer Biomet Holdings during the fourth quarter worth $45,965,000. Finally, Employees Retirement System of Texas bought a new stake in Zimmer Biomet Holdings during the fourth quarter worth $1,026,000.
Zimmer Biomet Holdings, Inc, formerly Zimmer Holdings, Inc, is engaged designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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