Pictet Asset Management Ltd. increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 28.8% during the second quarter, Holdings Channel reports. The firm owned 303,767 shares of the medical equipment provider’s stock after buying an additional 68,008 shares during the period. Pictet Asset Management Ltd.’s holdings in Zimmer Biomet Holdings were worth $36,212,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ZBH. MARSHALL WACE ASIA Ltd bought a new stake in Zimmer Biomet Holdings during the first quarter valued at approximately $38,621,000. Cibc World Markets Corp boosted its stake in Zimmer Biomet Holdings by 52.9% in the first quarter. Cibc World Markets Corp now owns 21,007 shares of the medical equipment provider’s stock valued at $2,565,000 after buying an additional 7,269 shares during the period. Caxton Associates LP bought a new stake in Zimmer Biomet Holdings during the first quarter valued at approximately $403,000. Koch Industries Inc. bought a new stake in Zimmer Biomet Holdings during the first quarter valued at approximately $255,000. Finally, Israel Discount Bank of New York bought a new stake in Zimmer Biomet Holdings during the first quarter valued at approximately $721,000. 83.62% of the stock is currently owned by institutional investors and hedge funds.

Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) opened at 112.86 on Thursday. Zimmer Biomet Holdings, Inc. has a 12-month low of $95.63 and a 12-month high of $133.49. The firm has a 50-day moving average of $125.96 and a 200 day moving average of $121.36. The firm has a market capitalization of $22.78 billion, a price-to-earnings ratio of 32.14 and a beta of 1.20.

Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the company posted $2.02 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts expect 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 will be paid on Friday, October 27th. Stockholders of record on Friday, September 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio is currently 27.59%.

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ZBH has been the topic of several research analyst reports. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Zimmer Biomet Holdings in a research note on Tuesday, May 16th. They set a “sell” rating and a $92.00 price target on the stock. Zacks Investment Research cut shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Canaccord Genuity reissued a “buy” rating on shares of Zimmer Biomet Holdings in a research note on Friday, April 28th. Wells Fargo & Company cut shares of Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. Finally, Morgan Stanley increased their price target on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Four equities 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 given a strong buy rating to the stock. Zimmer Biomet Holdings presently has an average rating of “Hold” and a consensus target price of $137.76.

In other news, insider Sang Yi sold 17,731 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Tony W. Collins sold 16,986 shares of the company’s stock in a transaction on Monday, July 31st. The shares were 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. Corporate insiders own 1.07% of the company’s stock.

Zimmer Biomet Holdings Company Profile

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.

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

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