Zimmer Biomet Holdings, Inc. (ZBH) Stake Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 2,218,602 shares of the medical equipment provider’s stock after selling 76,813 shares during the period. Bank of New York Mellon Corp’s holdings in Zimmer Biomet Holdings were worth $284,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in shares of 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 worth $102,000 after buying an additional 22 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of 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 worth $138,000 after buying an additional 199 shares during the last quarter. IHT Wealth Management LLC boosted its position in shares of 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 worth $139,000 after buying an additional 256 shares during the last quarter. Sandy Spring Bank boosted its position in shares of 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 worth $149,000 after buying an additional 20 shares during the last quarter. Finally, Ledyard National Bank boosted its position in shares of 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 worth $157,000 after buying an additional 110 shares during the last quarter. Institutional investors own 82.84% of the company’s stock.

Shares of Zimmer Biomet Holdings, Inc. (ZBH) opened at 112.42 on Friday. The company has a market cap of $22.73 billion, a P/E ratio of 32.02 and a beta of 1.20. Zimmer Biomet Holdings, Inc. has a 12-month low of $95.63 and a 12-month high of $133.49. The stock’s 50 day moving average price is $123.10 and its 200 day moving average price is $121.18.

Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share 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 company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the business earned $2.02 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post $8.24 EPS for the current year.

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

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A number of research analysts have issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $125.00 target price on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Needham & Company LLC lifted their target price on Zimmer Biomet Holdings from $151.00 to $153.00 and gave the company a “strong-buy” rating in a research report on Friday, April 28th. Oppenheimer Holdings, Inc. set a $132.00 target price on Zimmer Biomet Holdings and gave the company a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research cut Zimmer Biomet Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $136.00 target price on shares of Zimmer Biomet Holdings in a research report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Zimmer Biomet Holdings presently has a consensus rating of “Hold” and a consensus price target of $136.90.

In related news, VP Tony W. Collins sold 16,986 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $121.74, for a total transaction of $2,067,875.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sang Yi sold 17,731 shares of the firm’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 value of $2,208,573.36. The disclosure for this sale can be found here. 1.07% of the stock is owned by company 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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