Northpointe Capital LLC reduced its holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 48.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,098 shares of the medical equipment provider’s stock after selling 15,994 shares during the period. Northpointe Capital LLC’s holdings in Zimmer Biomet were worth $2,183,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of ZBH. Legacy Financial Advisors Inc. lifted its holdings in shares of Zimmer Biomet by 176.4% in the 4th quarter. Legacy Financial Advisors Inc. now owns 351 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 224 shares during the last quarter. Clean Yield Group bought a new stake in shares of Zimmer Biomet in the 4th quarter worth about $37,000. Doyle Wealth Management bought a new stake in shares of Zimmer Biomet in the 4th quarter worth about $41,000. Pinnacle Bank bought a new stake in shares of Zimmer Biomet in the 4th quarter worth about $45,000. Finally, IMS Capital Management bought a new stake in shares of Zimmer Biomet in the 3rd quarter worth about $69,000. 89.82% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:ZBH traded down $4.25 during trading hours on Wednesday, hitting $121.27. The company’s stock had a trading volume of 747,089 shares, compared to its average volume of 1,145,136. Zimmer Biomet Holdings Inc has a 52 week low of $96.99 and a 52 week high of $134.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.90 and a current ratio of 1.83. The firm has a market cap of $26.17 billion, a P/E ratio of 15.87, a P/E/G ratio of 2.25 and a beta of 1.23.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.24 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. Zimmer Biomet’s dividend payout ratio is currently 12.57%.
In other Zimmer Biomet news, Director Syed A. Jafry purchased 1,925 shares of Zimmer Biomet stock in a transaction dated Friday, March 1st. The stock was acquired at an average price of $125.52 per share, for a total transaction of $241,626.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Betsy J. Bernard purchased 4,250 shares of Zimmer Biomet stock in a transaction dated Wednesday, February 6th. The stock was acquired at an average price of $117.41 per share, with a total value of $498,992.50. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $234,820. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 12,860 shares of company stock valued at $1,548,994. Company insiders own 0.72% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a report on Monday. Zacks Investment Research lowered shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a report on Saturday. Evercore ISI upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, April 8th. Morgan Stanley lifted their price objective on shares of Zimmer Biomet from $132.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, SunTrust Banks lifted their price objective on shares of Zimmer Biomet to $135.00 and gave the company a “buy” rating in a report on Tuesday, February 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $129.95.
About Zimmer Biomet
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: How to calculate the intrinsic value of a stock
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