Verition Fund Management LLC Cuts Stake in Zimmer Biomet Holdings, Inc. (ZBH)

Verition Fund Management LLC lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,800 shares of the medical equipment provider’s stock after selling 597 shares during the quarter. Verition Fund Management LLC’s holdings in Zimmer Biomet Holdings were worth $3,184,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ZBH. Delta Lloyd NV bought a new stake in shares of Zimmer Biomet Holdings in the first quarter worth $12,278,000. Aberdeen Asset Management PLC UK lifted its position in shares of Zimmer Biomet Holdings by 12.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 44,510 shares of the medical equipment provider’s stock worth $5,435,000 after purchasing an additional 4,889 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Zimmer Biomet Holdings by 6.2% in the first quarter. Quantbot Technologies LP now owns 1,650 shares of the medical equipment provider’s stock worth $201,000 after purchasing an additional 96 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Zimmer Biomet Holdings by 3.1% in the first quarter. Prudential Financial Inc. now owns 283,003 shares of the medical equipment provider’s stock worth $34,557,000 after purchasing an additional 8,555 shares in the last quarter. Finally, Sandy Spring Bank lifted 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 purchasing an additional 20 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Holdings, Inc. (NYSE ZBH) traded down 1.17% during trading on Friday, hitting $119.22. 259,456 shares of the company’s stock traded hands. 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 $24.11 billion, a PE ratio of 33.96 and a beta of 1.19. The company’s 50 day moving average price is $115.79 and its 200 day moving average price is $120.39.

Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.02). Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the business posted $2.02 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Analysts expect that Zimmer Biomet Holdings, Inc. will post $8.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 22nd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio (DPR) is currently 27.59%.

A number of brokerages have recently commented on ZBH. Oppenheimer Holdings, Inc. set a $137.00 price objective on shares of Zimmer Biomet Holdings and gave the stock a “buy” rating in a research report on Monday, August 14th. BidaskClub lowered shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. SunTrust Banks, Inc. reissued a “buy” rating and issued a $136.00 price objective on shares of Zimmer Biomet Holdings in a research report on Monday, October 2nd. Canaccord Genuity reissued a “buy” rating and issued a $141.00 price objective on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Finally, BMO Capital Markets boosted their price objective on shares of Zimmer Biomet Holdings from $136.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $136.55.

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In related news, VP Tony W. Collins sold 16,986 shares of Zimmer Biomet Holdings stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $121.74, for a total value of $2,067,875.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

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

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