Royal London Asset Management Ltd. Buys New Stake in Zimmer Biomet Holdings Inc (ZBH)

Royal London Asset Management Ltd. bought a new stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 84,990 shares of the medical equipment provider’s stock, valued at approximately $9,473,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZBH. Envestnet Asset Management Inc. boosted its position in shares of Zimmer Biomet by 2.6% in the first quarter. Envestnet Asset Management Inc. now owns 29,518 shares of the medical equipment provider’s stock worth $3,262,000 after purchasing an additional 749 shares during the period. Federated Investors Inc. PA boosted its position in shares of Zimmer Biomet by 1,308.2% in the first quarter. Federated Investors Inc. PA now owns 73,947 shares of the medical equipment provider’s stock worth $8,064,000 after purchasing an additional 68,696 shares during the period. Toronto Dominion Bank boosted its position in shares of Zimmer Biomet by 25.5% in the first quarter. Toronto Dominion Bank now owns 109,461 shares of the medical equipment provider’s stock worth $11,933,000 after purchasing an additional 22,261 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Zimmer Biomet by 14.4% in the first quarter. Stratos Wealth Partners LTD. now owns 20,508 shares of the medical equipment provider’s stock worth $2,236,000 after purchasing an additional 2,585 shares during the period. Finally, Natixis Advisors L.P. boosted its position in shares of Zimmer Biomet by 36.7% in the first quarter. Natixis Advisors L.P. now owns 52,551 shares of the medical equipment provider’s stock worth $5,730,000 after purchasing an additional 14,104 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.

A number of research firms have weighed in on ZBH. Argus lowered shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. Piper Jaffray Companies upped their target price on shares of Zimmer Biomet from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Zacks Investment Research lowered shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. ValuEngine upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, Jefferies Financial Group upped their target price on shares of Zimmer Biomet to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Zimmer Biomet has an average rating of “Buy” and a consensus price target of $135.10.

Zimmer Biomet stock opened at $131.43 on Monday. The firm has a market cap of $26.74 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a current ratio of 2.41, a quick ratio of 1.25 and a debt-to-equity ratio of 0.78. Zimmer Biomet Holdings Inc has a 52-week low of $104.28 and a 52-week high of $134.55.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Thursday, September 27th. Zimmer Biomet’s payout ratio is 11.96%.

In related news, VP Tony W. Collins sold 2,778 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $125.77, for a total transaction of $349,389.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Bryan C. Hanson purchased 410 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were acquired at an average cost of $123.03 per share, for a total transaction of $50,442.30. Following the purchase, the chief executive officer now owns 25,487 shares of the company’s stock, valued at $3,135,665.61. The disclosure for this purchase can be found here. 0.71% of the stock is owned by corporate insiders.

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.

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

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