Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Argent Trust Co

by · The Cerbat Gem

Argent Trust Co boosted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 11.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,164 shares of the medical equipment provider’s stock after buying an additional 419 shares during the period. Argent Trust Co’s holdings in Zimmer Biomet were worth $471,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ZBH. MGO One Seven LLC boosted its holdings in Zimmer Biomet by 5.1% in the fourth quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 110 shares during the period. Janney Montgomery Scott LLC raised its position in Zimmer Biomet by 0.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider’s stock valued at $2,903,000 after purchasing an additional 118 shares in the last quarter. Curbstone Financial Management Corp boosted its stake in shares of Zimmer Biomet by 3.4% in the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider’s stock valued at $483,000 after buying an additional 140 shares during the period. Roberts Wealth Advisors LLC grew its position in shares of Zimmer Biomet by 0.8% during the first quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider’s stock worth $2,093,000 after buying an additional 152 shares in the last quarter. Finally, Wesbanco Bank Inc. increased its stake in shares of Zimmer Biomet by 0.8% during the first quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider’s stock worth $2,265,000 after buying an additional 163 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Buying and Selling at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider directly owned 20,424 shares of the company’s stock, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Zimmer Biomet Stock Down 0.5%

Shares of NYSE:ZBH opened at $91.91 on Wednesday. The company has a market capitalization of $18.18 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.16 and a beta of 0.68. The company has a 50 day moving average of $93.12 and a two-hundred day moving average of $100.01. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53.

Zimmer Biomet (NYSE:ZBH – Get Free Report) last released its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.24%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZBH. The Goldman Sachs Group dropped their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Evercore ISI decreased their price target on Zimmer Biomet from $102.00 to $96.00 and set an “in-line” rating for the company in a report on Tuesday, July 8th. Raymond James Financial dropped their price objective on Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. BTIG Research reissued a “buy” rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Finally, Morgan Stanley lowered their price target on Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $111.39.

Read Our Latest Analysis on Zimmer Biomet

Zimmer Biomet Profile

(Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.

See Also

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