Royal Bank of Canada Sells 86,837 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Royal Bank of Canada cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 21.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 319,726 shares of the medical equipment provider’s stock after selling 86,837 shares during the period. Royal Bank of Canada’s holdings in Zimmer Biomet were worth $28,911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ZBH. Quantinno Capital Management LP boosted its holdings in shares of Zimmer Biomet by 266.3% in the first quarter. Quantinno Capital Management LP now owns 396,076 shares of the medical equipment provider’s stock valued at $35,813,000 after buying an additional 287,947 shares during the period. Dean Capital Management raised its holdings in Zimmer Biomet by 25.8% during the first quarter. Dean Capital Management now owns 24,566 shares of the medical equipment provider’s stock worth $2,221,000 after acquiring an additional 5,038 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Zimmer Biomet by 27.7% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 9,518 shares of the medical equipment provider’s stock worth $861,000 after purchasing an additional 2,062 shares in the last quarter. Waverly Advisors LLC lifted its stake in Zimmer Biomet by 1.4% in the first quarter. Waverly Advisors LLC now owns 27,074 shares of the medical equipment provider’s stock valued at $2,448,000 after acquiring an additional 369 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Zimmer Biomet by 58.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 12,451 shares of the medical equipment provider’s stock worth $1,126,000 after purchasing an additional 4,617 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Down 1.0%

ZBH stock opened at $96.02 on Wednesday. The stock has a market cap of $18.58 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.86 and a beta of 0.45. The stock’s fifty day simple moving average is $89.30 and its two-hundred day simple moving average is $89.95. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. Zimmer Biomet Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $108.29.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, June 25th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, June 25th. Zimmer Biomet’s payout ratio is currently 24.94%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ZBH shares. Barclays dropped their price objective on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company decreased their price target on Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. BMO Capital Markets started coverage on Zimmer Biomet in a research note on Wednesday, July 8th. They set a “market perform” rating and a $95.00 target price for the company. Citigroup reduced their price target on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. Finally, Stifel Nicolaus lowered their target price on Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and a consensus target price of $102.00.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.28% of the company’s stock.

Zimmer Biomet Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.