Parsec Financial Management Inc. boosted 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 Securities and Exchange Commission (SEC). The institutional investor owned 52,117 shares of the medical equipment provider’s stock after buying an additional 1,923 shares during the period. Parsec Financial Management Inc.’s holdings in Zimmer Biomet Holdings were worth $6,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alpha Windward LLC raised its position in shares of Zimmer Biomet Holdings by 1.1% in the first quarter. Alpha Windward LLC now owns 1,651 shares of the medical equipment provider’s stock valued at $202,000 after buying an additional 18 shares during the last quarter. Sandy Spring Bank raised its position in shares of Zimmer Biomet Holdings by 1.7% in the first quarter. Sandy Spring Bank now owns 1,222 shares of the medical equipment provider’s stock valued at $149,000 after buying an additional 20 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Zimmer Biomet Holdings by 2.7% in the first quarter. Parkside Financial Bank & Trust now owns 839 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 22 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Zimmer Biomet Holdings by 0.5% in the first quarter. Cleararc Capital Inc. now owns 4,897 shares of the medical equipment provider’s stock valued at $598,000 after buying an additional 25 shares during the last quarter. Finally, Enterprise Financial Services Corp raised its position in shares of Zimmer Biomet Holdings by 1.0% in the first quarter. Enterprise Financial Services Corp now owns 2,637 shares of the medical equipment provider’s stock valued at $322,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 84.13% of the company’s stock.

Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) opened at 117.93 on Friday. The stock has a market capitalization of $23.80 billion, a P/E ratio of 33.59 and a beta of 1.20. Zimmer Biomet Holdings, Inc. has a 12 month low of $95.63 and a 12 month high of $133.49. The company’s 50 day moving average price is $127.65 and its 200-day moving average price is $121.39.

Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by $0.02. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Zimmer Biomet Holdings’s revenue was up 1.1% on a year-over-year basis. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post $8.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 23rd were issued a $0.24 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. Zimmer Biomet Holdings’s payout ratio is currently 27.59%.

ILLEGAL ACTIVITY WARNING: “Parsec Financial Management Inc. Purchases 1,923 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)” was published by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was copied illegally and republished in violation of United States and international trademark & copyright law. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/08/06/parsec-financial-management-inc-purchases-1923-shares-of-zimmer-biomet-holdings-inc-nysezbh.html.

Several brokerages have issued reports on ZBH. Royal Bank Of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $148.00 price target on shares of Zimmer Biomet Holdings in a report on Friday, June 30th. Citigroup Inc. increased their price target on Zimmer Biomet Holdings from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. Wells Fargo & Company reiterated a “market weight” rating on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $141.00 price target on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $137.76.

In related news, insider Sang Yi sold 17,731 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $124.56, for a total value of $2,208,573.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tony W. Collins sold 16,986 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $121.74, for a total transaction of $2,067,875.64. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

About Zimmer Biomet Holdings

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings, Inc. (NYSE:ZBH).

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

Receive News & Ratings for Zimmer Biomet Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.