Daiwa Securities Group Inc. Buys 650 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Daiwa Securities Group Inc. raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.7% during the second quarter, Holdings Channel reports. The firm owned 7,350 shares of the medical equipment provider’s stock after buying an additional 650 shares during the period. Daiwa Securities Group Inc.’s holdings in Zimmer Biomet Holdings were worth $944,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Rothschild Investment Corp IL raised its position in Zimmer Biomet Holdings by 1.1% in the first quarter. Rothschild Investment Corp IL now owns 62,484 shares of the medical equipment provider’s stock valued at $7,630,000 after buying an additional 700 shares during the period. Huntington National Bank raised its position in Zimmer Biomet Holdings by 20.2% in the first quarter. Huntington National Bank now owns 9,473 shares of the medical equipment provider’s stock valued at $1,157,000 after buying an additional 1,593 shares during the period. Oakbrook Investments LLC acquired a new position in Zimmer Biomet Holdings during the first quarter valued at approximately $1,010,000. Ledyard National Bank raised its position in Zimmer Biomet Holdings by 9.3% in the first quarter. Ledyard National Bank now owns 1,293 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 110 shares during the period. Finally, DnB Asset Management AS raised its position in Zimmer Biomet Holdings by 16.2% in the first quarter. DnB Asset Management AS now owns 22,208 shares of the medical equipment provider’s stock valued at $2,712,000 after buying an additional 3,100 shares during the period. 83.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Zimmer Biomet Holdings, Inc. (ZBH) opened at 111.70 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $95.63 and a 52-week high of $133.49. The firm has a market capitalization of $22.59 billion, a P/E ratio of 31.81 and a beta of 1.20. The stock’s 50 day moving average is $124.93 and its 200-day moving average is $121.26.

Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post $8.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Zimmer Biomet Holdings’s dividend payout ratio is currently 27.59%.

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Several equities analysts recently commented on the company. Morgan Stanley increased their target price on Zimmer Biomet Holdings from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $125.00 price objective on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $141.00 price objective on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Canaccord Genuity reaffirmed a “buy” rating and set a $141.00 price objective on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $136.90.

In other news, insider Sang Yi sold 17,731 shares of the business’s stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Also, VP Tony W. Collins sold 16,986 shares of the business’s stock in a transaction that occurred 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. 1.07% of the stock is owned by insiders.

Zimmer Biomet Holdings Company Profile

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.

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

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