Welch Capital Partners LLC NY lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.2% during the second quarter, Holdings Channel reports. The firm owned 71,973 shares of the medical equipment provider’s stock after selling 14,940 shares during the period. Zimmer Biomet Holdings comprises approximately 3.1% of Welch Capital Partners LLC NY’s portfolio, making the stock its 10th largest position. Welch Capital Partners LLC NY’s holdings in Zimmer Biomet Holdings were worth $9,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hartland & Co. LLC increased its position in Zimmer Biomet Holdings by 13.4% in the second quarter. Hartland & Co. LLC now owns 4,677 shares of the medical equipment provider’s stock worth $601,000 after buying an additional 551 shares during the period. Taurus Asset Management LLC increased its position in Zimmer Biomet Holdings by 79.3% in the second quarter. Taurus Asset Management LLC now owns 3,052 shares of the medical equipment provider’s stock worth $392,000 after buying an additional 1,350 shares during the period. Everett Harris & Co. CA increased its position in Zimmer Biomet Holdings by 6.2% in the second quarter. Everett Harris & Co. CA now owns 277,444 shares of the medical equipment provider’s stock worth $35,624,000 after buying an additional 16,078 shares during the period. Gamco Investors INC. ET AL increased its position in Zimmer Biomet Holdings by 13.7% in the second quarter. Gamco Investors INC. ET AL now owns 312,843 shares of the medical equipment provider’s stock worth $40,169,000 after buying an additional 37,601 shares during the period. Finally, Comerica Bank increased its position in Zimmer Biomet Holdings by 1.7% in the second quarter. Comerica Bank now owns 113,173 shares of the medical equipment provider’s stock worth $14,575,000 after buying an additional 1,941 shares during the period. Hedge funds and other institutional investors own 82.84% of the company’s stock.

Zimmer Biomet Holdings, Inc. (ZBH) opened at 112.42 on Friday. Zimmer Biomet Holdings, Inc. has a 1-year low of $95.63 and a 1-year high of $133.49. The firm’s 50-day moving average is $123.10 and its 200 day moving average is $121.18. The firm has a market cap of $22.73 billion, a PE ratio of 32.02 and a beta of 1.20.

Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (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 business 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 firm earned $2.02 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post $8.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 22nd will be issued a $0.24 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet Holdings’s dividend payout ratio is 27.59%.

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A number of brokerages have weighed in on ZBH. Oppenheimer Holdings, Inc. set a $137.00 target price on shares of Zimmer Biomet Holdings and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research cut shares of Zimmer Biomet Holdings from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BMO Capital Markets increased their target price on shares of Zimmer Biomet Holdings from $136.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Finally, Leerink Swann increased their target price on shares of Zimmer Biomet Holdings from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Zimmer Biomet Holdings has an average rating of “Hold” and an average target price of $136.90.

In related news, VP Tony W. Collins sold 16,986 shares of Zimmer Biomet Holdings stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $121.74, for a total value of $2,067,875.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sang Yi sold 17,731 shares of Zimmer Biomet Holdings stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $124.56, for a total value of $2,208,573.36. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

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.

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

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