Cim Investment Mangement Inc. boosted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,147 shares of the medical equipment provider’s stock after buying an additional 256 shares during the period. Cim Investment Mangement Inc.’s holdings in Zimmer Biomet Holdings were worth $789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in Zimmer Biomet Holdings by 2.7% in the first quarter. Parkside Financial Bank & Trust now owns 839 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 22 shares during the period. Parallel Advisors LLC increased its position in Zimmer Biomet Holdings by 20.8% in the first quarter. Parallel Advisors LLC now owns 1,157 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 199 shares during the period. IHT Wealth Management LLC increased its position in Zimmer Biomet Holdings by 28.4% in the first quarter. IHT Wealth Management LLC now owns 1,158 shares of the medical equipment provider’s stock valued at $139,000 after buying an additional 256 shares during the period. Sandy Spring Bank increased its position in Zimmer Biomet Holdings by 1.7% in the first quarter. Sandy Spring Bank now owns 1,222 shares of the medical equipment provider’s stock valued at $149,000 after buying an additional 20 shares during the period. Finally, Penserra Capital Management LLC increased its position in Zimmer Biomet Holdings by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,288 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 112 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Holdings, Inc. (NYSE ZBH) traded down 0.48% on Wednesday, hitting $112.28. The stock had a trading volume of 193,378 shares. The firm’s 50-day moving average is $120.75 and its 200-day moving average is $120.97. Zimmer Biomet Holdings, Inc. has a 52-week low of $95.63 and a 52-week high of $133.49. The company has a market cap of $22.70 billion, a P/E ratio of 31.98 and a beta of 1.20.

Zimmer Biomet Holdings (NYSE:ZBH) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business earned $2.02 EPS. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post $8.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio (DPR) is currently 27.59%.

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Several research analysts have recently commented on ZBH shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $141.00 price objective on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Guggenheim raised Zimmer Biomet Holdings from a “neutral” rating to a “buy” rating and set a $157.00 price objective on the stock in a research note on Wednesday, July 12th. BMO Capital Markets reaffirmed a “buy” rating and issued a $136.00 price objective on shares of Zimmer Biomet Holdings in a research note on Tuesday, July 11th. Jefferies Group LLC reissued a “buy” rating and set a $148.00 target price on shares of Zimmer Biomet Holdings in a research note on Friday, June 30th. Finally, Bank of America Corporation reissued a “buy” rating and set a $158.00 target price on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Zimmer Biomet Holdings currently has a consensus rating of “Hold” and a consensus price target of $136.75.

In other news, insider Sang Yi sold 17,731 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $124.56, for a total transaction of $2,208,573.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Tony W. Collins sold 16,986 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $121.74, for a total transaction of $2,067,875.64. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

About Zimmer Biomet Holdings

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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

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