QCI Asset Management Inc. NY Raises Stake in Zimmer Biomet Holdings Inc (ZBH)

QCI Asset Management Inc. NY lifted its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 0.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 140,875 shares of the medical equipment provider’s stock after acquiring an additional 1,134 shares during the quarter. Zimmer Biomet accounts for approximately 1.8% of QCI Asset Management Inc. NY’s investment portfolio, making the stock its 18th biggest position. QCI Asset Management Inc. NY’s holdings in Zimmer Biomet were worth $18,521,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. IFM Investors Pty Ltd grew its holdings in Zimmer Biomet by 48.2% during the second quarter. IFM Investors Pty Ltd now owns 9,240 shares of the medical equipment provider’s stock worth $1,030,000 after acquiring an additional 3,006 shares during the period. State of Alaska Department of Revenue grew its holdings in Zimmer Biomet by 4.7% during the second quarter. State of Alaska Department of Revenue now owns 32,288 shares of the medical equipment provider’s stock worth $3,597,000 after acquiring an additional 1,460 shares during the period. Pennsylvania Trust Co grew its holdings in Zimmer Biomet by 13.8% during the second quarter. Pennsylvania Trust Co now owns 8,687 shares of the medical equipment provider’s stock worth $968,000 after acquiring an additional 1,053 shares during the period. FormulaFolio Investments LLC acquired a new stake in Zimmer Biomet during the second quarter worth about $786,000. Finally, Regent Investment Management LLC acquired a new stake in Zimmer Biomet during the second quarter worth about $201,000. 86.28% of the stock is owned by institutional investors.

ZBH has been the topic of several analyst reports. Zacks Investment Research lowered Zimmer Biomet from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. ValuEngine raised Zimmer Biomet from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Oppenheimer reissued a “buy” rating and issued a $138.00 price objective (up from $130.00) on shares of Zimmer Biomet in a report on Friday, July 27th. Canaccord Genuity raised their price objective on Zimmer Biomet from $122.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 30th. Finally, JMP Securities raised their price objective on Zimmer Biomet from $133.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $134.30.

In other news, CEO Bryan C. Hanson bought 410 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were acquired at an average price of $123.03 per share, for a total transaction of $50,442.30. Following the completion of the transaction, the chief executive officer now directly owns 25,487 shares in the company, valued at approximately $3,135,665.61. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Chad F. Phipps sold 30,100 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $132.37, for a total value of $3,984,337.00. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

Shares of ZBH opened at $117.62 on Friday. The company has a current ratio of 1.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.70. Zimmer Biomet Holdings Inc has a 12 month low of $104.28 and a 12 month high of $134.55. The company has a market capitalization of $24.10 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.03. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.84 billion. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 earnings per share. Research analysts anticipate that Zimmer Biomet Holdings Inc will post 7.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.82%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 11.96%.

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

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