Welch & Forbes LLC reduced its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 4.4% in the third quarter, Holdings Channel reports. The firm owned 30,040 shares of the medical equipment provider’s stock after selling 1,383 shares during the period. Welch & Forbes LLC’s holdings in Zimmer Biomet were worth $3,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Flinton Capital Management LLC increased its position in Zimmer Biomet by 8.0% during the 2nd quarter. Flinton Capital Management LLC now owns 12,444 shares of the medical equipment provider’s stock valued at $1,387,000 after buying an additional 918 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Zimmer Biomet by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 957,471 shares of the medical equipment provider’s stock valued at $106,700,000 after buying an additional 7,733 shares in the last quarter. Legal & General Group Plc increased its position in Zimmer Biomet by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 983,726 shares of the medical equipment provider’s stock valued at $109,634,000 after buying an additional 21,825 shares in the last quarter. HPM Partners LLC increased its position in Zimmer Biomet by 29.3% during the 2nd quarter. HPM Partners LLC now owns 13,241 shares of the medical equipment provider’s stock valued at $1,476,000 after buying an additional 3,001 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in Zimmer Biomet by 71.5% during the 2nd quarter. Schroder Investment Management Group now owns 64,996 shares of the medical equipment provider’s stock valued at $7,233,000 after buying an additional 27,096 shares in the last quarter. Hedge funds and other institutional investors own 87.25% of the company’s stock.

Several research analysts recently issued reports on the company. Needham & Company LLC upped their target price on Zimmer Biomet from $146.00 to $150.00 and gave the company a “strong-buy” rating in a research report on Monday, July 30th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $150.00 target price on shares of Zimmer Biomet in a research report on Monday, August 27th. Sanford C. Bernstein assumed coverage on Zimmer Biomet in a research report on Wednesday, June 27th. They set an “underperform” rating and a $96.00 target price on the stock. Piper Jaffray Companies upped their target price on Zimmer Biomet from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Finally, BTIG Research assumed coverage on Zimmer Biomet in a research report on Thursday, August 16th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $135.33.

In related news, CEO Bryan C. Hanson bought 410 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were purchased at an average cost of $123.03 per share, with a total value of $50,442.30. Following the completion of the acquisition, the chief executive officer now directly owns 25,487 shares in the company, valued at $3,135,665.61. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chad F. Phipps sold 30,100 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $132.37, for a total value of $3,984,337.00. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Shares of ZBH stock opened at $126.32 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $26.11 billion, a PE ratio of 16.77, a PEG ratio of 2.35 and a beta of 1.08. Zimmer Biomet Holdings Inc has a fifty-two week low of $104.28 and a fifty-two week high of $134.55.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Friday, July 27th. The medical equipment provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. Zimmer Biomet had a return on equity of 13.53% and a net margin of 21.67%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 earnings per share. Research analysts anticipate that Zimmer Biomet Holdings Inc will post 7.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, September 27th. Zimmer Biomet’s dividend payout ratio is presently 11.96%.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

See Also: Closed-End Mutual Funds

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

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