Traders Buy Zimmer Biomet Holdings Inc. (ZBH) on Weakness
Investors bought shares of Zimmer Biomet Holdings Inc. (NYSE:ZBH) on weakness during trading on Monday. $63.30 million flowed into the stock on the tick-up and $31.77 million flowed out of the stock on the tick-down, for a money net flow of $31.53 million into the stock. Of all stocks tracked, Zimmer Biomet Holdings had the 9th highest net in-flow for the day. Zimmer Biomet Holdings traded down ($0.08) for the day and closed at $131.06
Several equities analysts have recently issued reports on ZBH shares. Goldman Sachs Group Inc. reduced their price target on shares of Zimmer Biomet Holdings from $113.00 to $111.00 in a report on Friday, April 8th. Needham & Company LLC reissued a “buy” rating on shares of Zimmer Biomet Holdings in a report on Wednesday, June 8th. Sterne Agee CRT restated a “buy” rating on shares of Zimmer Biomet Holdings in a research note on Monday, May 16th. Zacks Investment Research upgraded shares of Zimmer Biomet Holdings from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research note on Monday, July 4th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $125.00 price objective on shares of Zimmer Biomet Holdings in a research note on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $130.45.
The company’s 50 day moving average is $122.04 and its 200 day moving average is $111.24. The stock has a market capitalization of $26.13 billion and a price-to-earnings ratio of 119.69.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings results on Thursday, July 28th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.05. The firm earned $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the business earned $1.58 EPS. Zimmer Biomet Holdings’s revenue was up 65.6% on a year-over-year basis. Equities analysts expect that Zimmer Biomet Holdings Inc. will post $7.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, June 24th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, June 22nd.
In other Zimmer Biomet Holdings news, CAO Tony W. Collins sold 3,611 shares of the stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $116.43, for a total value of $420,428.73. Following the transaction, the chief accounting officer now owns 3,245 shares of the company’s stock, valued at $377,815.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel P. Florin sold 15,000 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $124.98, for a total value of $1,874,700.00. Following the completion of the transaction, 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.
A number of institutional investors recently added to or reduced their stakes in the stock. Whittier Trust Co. bought a new position in Zimmer Biomet Holdings during the fourth quarter valued at $1,022,000. Employees Retirement System of Texas bought a new position in Zimmer Biomet Holdings during the fourth quarter valued at $1,026,000. Liberty Mutual Group Asset Management Inc. bought a new position in Zimmer Biomet Holdings during the fourth quarter valued at $1,029,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Zimmer Biomet Holdings during the fourth quarter valued at $1,147,000. Finally, Advisors Asset Management Inc. bought a new position in Zimmer Biomet Holdings during the fourth quarter valued at $1,234,000.
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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