FineMark National Bank & Trust reduced its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 75.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,539 shares of the medical equipment provider’s stock after selling 4,727 shares during the period. FineMark National Bank & Trust’s holdings in Zimmer Biomet were worth $202,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ZBH. Fred Alger Management Inc. raised its stake in Zimmer Biomet by 48.6% in the second quarter. Fred Alger Management Inc. now owns 1,194,763 shares of the medical equipment provider’s stock worth $133,144,000 after buying an additional 390,517 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Zimmer Biomet by 96.7% during the second quarter. Renaissance Technologies LLC now owns 596,000 shares of the medical equipment provider’s stock valued at $66,418,000 after purchasing an additional 293,000 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Zimmer Biomet by 423.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 316,397 shares of the medical equipment provider’s stock valued at $35,259,000 after purchasing an additional 255,897 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Zimmer Biomet by 246.5% during the second quarter. Voya Investment Management LLC now owns 358,559 shares of the medical equipment provider’s stock valued at $39,958,000 after purchasing an additional 255,088 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Zimmer Biomet by 119.3% during the third quarter. Cornerstone Wealth Management LLC now owns 35,143 shares of the medical equipment provider’s stock valued at $299,000 after purchasing an additional 217,146 shares in the last quarter. 86.28% of the stock is owned by institutional investors.

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 bought at an average price of $123.03 per share, for a total transaction of $50,442.30. Following the completion of the acquisition, the chief executive officer now owns 25,487 shares of the company’s stock, valued at approximately $3,135,665.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Chad F. Phipps sold 30,100 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $132.37, for a total transaction of $3,984,337.00. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

NYSE:ZBH opened at $117.62 on Friday. Zimmer Biomet Holdings Inc has a 52 week low of $104.28 and a 52 week high of $134.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 1.89. The company has a market cap of $23.47 billion, a PE ratio of 14.65, a PEG ratio of 2.33 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Friday, October 26th. The medical equipment provider reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company posted $1.72 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Zimmer Biomet Holdings Inc will post 7.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, September 27th. Zimmer Biomet’s payout ratio is 11.96%.

A number of equities analysts have weighed in on ZBH shares. Zacks Investment Research downgraded shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. ValuEngine raised shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Oppenheimer reaffirmed a “buy” rating and set a $138.00 target price (up previously from $130.00) on shares of Zimmer Biomet in a research note on Friday, July 27th. Canaccord Genuity raised their target price on shares of Zimmer Biomet from $122.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 30th. Finally, JMP Securities raised their target price on shares of Zimmer Biomet from $133.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, July 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $134.30.

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Zimmer Biomet 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.

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

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