Tower Research Capital LLC TRC Acquires 4,093 Shares of Zimmer Biomet Holdings Inc (ZBH)

Tower Research Capital LLC TRC boosted its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 614.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,759 shares of the medical equipment provider’s stock after buying an additional 4,093 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Zimmer Biomet were worth $530,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ZBH. PointState Capital LP acquired a new position in Zimmer Biomet in the first quarter worth approximately $55,992,000. Fred Alger Management Inc. grew its position 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 during the last quarter. Renaissance Technologies LLC grew its position in Zimmer Biomet by 96.7% in the second quarter. Renaissance Technologies LLC now owns 596,000 shares of the medical equipment provider’s stock worth $66,418,000 after buying an additional 293,000 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Zimmer Biomet by 423.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 316,397 shares of the medical equipment provider’s stock worth $35,259,000 after buying an additional 255,897 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Zimmer Biomet by 246.5% in the second quarter. Voya Investment Management LLC now owns 358,559 shares of the medical equipment provider’s stock worth $39,958,000 after buying an additional 255,088 shares during the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.

Several research analysts have issued reports on ZBH shares. Needham & Company LLC lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating and set a $150.00 price target on the stock. in a research report on Monday, August 13th. Citigroup lifted their price target on shares of Zimmer Biomet from $117.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. Zacks Investment Research lowered shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Cantor Fitzgerald restated a “buy” rating and issued a $150.00 price target on shares of Zimmer Biomet in a research report on Monday, August 27th. Finally, Robert W. Baird lifted their price target on shares of Zimmer Biomet from $121.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. Zimmer Biomet has an average rating of “Buy” and an average target price of $135.10.

In other Zimmer Biomet news, VP Tony W. Collins sold 2,778 shares of Zimmer Biomet 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bryan C. Hanson bought 410 shares of the firm’s stock in a transaction on Friday, August 31st. The shares were bought at an average cost of $123.03 per share, with a total value of $50,442.30. Following the purchase, the chief executive officer now directly owns 25,487 shares in the company, valued at $3,135,665.61. The disclosure for this purchase can be found here. Company insiders own 0.71% of the company’s stock.

Zimmer Biomet stock opened at $131.43 on Monday. 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 0.78, a current ratio of 2.41 and a quick ratio of 1.25. The company has a market capitalization of $26.74 billion, a P/E ratio of 16.37, a PEG ratio of 2.41 and a beta of 1.09.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Friday, July 27th. The medical equipment provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Zimmer Biomet had a net margin of 21.67% and a return on equity of 13.53%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business posted $2.08 EPS. The company’s revenue was up 3.0% on a year-over-year basis. equities analysts forecast 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. Investors of record on Friday, September 28th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, September 27th. Zimmer Biomet’s dividend payout ratio is 11.96%.

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.

Further Reading: Earnings Per Share

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

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