Focused Investors LLC Has $125.58 Million Holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH)
Focused Investors LLC trimmed its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 15.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 914,800 shares of the medical equipment provider’s stock after selling 162,500 shares during the quarter. Zimmer Biomet accounts for 5.5% of Focused Investors LLC’s holdings, making the stock its 9th biggest position. Focused Investors LLC owned approximately 0.45% of Zimmer Biomet worth $125,575,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Allworth Financial LP boosted its position in Zimmer Biomet by 65.0% during the 3rd quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Personal Wealth Partners acquired a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $26,000. TRUE Private Wealth Advisors acquired a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $26,000. Coastal Investment Advisors Inc. boosted its holdings in shares of Zimmer Biomet by 271.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 187 shares during the last quarter. Finally, Private Ocean LLC boosted its holdings in shares of Zimmer Biomet by 34.8% in the 2nd quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 80 shares during the last quarter. 87.81% of the stock is owned by institutional investors and hedge funds.
Zimmer Biomet stock traded down $0.01 during mid-day trading on Monday, hitting $137.60. 768,782 shares of the company’s stock traded hands, compared to its average volume of 1,039,567. The firm has a 50 day simple moving average of $137.43 and a two-hundred day simple moving average of $127.49. Zimmer Biomet Holdings Inc has a fifty-two week low of $96.99 and a fifty-two week high of $143.57. The stock has a market cap of $28.44 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 2.63 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, September 27th. Zimmer Biomet’s dividend payout ratio is 12.57%.
Several equities research analysts have recently commented on the company. Robert W. Baird raised Zimmer Biomet from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $154.00 in a report on Monday, July 29th. BTIG Research raised Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $158.00 price objective for the company in a report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and issued a $170.00 price objective on shares of Zimmer Biomet in a report on Wednesday, September 18th. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Monday, August 12th. Finally, Canaccord Genuity raised Zimmer Biomet from a “hold” rating to a “buy” rating and increased their price objective for the company from $137.00 to $167.00 in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $145.40.
In other Zimmer Biomet news, insider Didier Deltort sold 360 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $139.25, for a total transaction of $50,130.00. Following the transaction, the insider now owns 1,194 shares in the company, valued at approximately $166,264.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chad F. Phipps sold 7,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $138.28, for a total value of $967,960.00. Following the transaction, the vice president now owns 37,722 shares in the company, valued at approximately $5,216,198.16. The disclosure for this sale can be found here. Insiders have sold a total of 40,391 shares of company stock valued at $5,642,274 in the last ninety days. Insiders own 0.72% of the company’s stock.
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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