Insider Selling: Zimmer Biomet Holdings Inc (NYSE:ZBH) VP Sells 7,000 Shares of Stock

Zimmer Biomet Holdings Inc (NYSE:ZBH) VP Chad F. Phipps sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $138.28, for a total transaction of $967,960.00. Following the completion of the sale, the vice president now owns 37,722 shares in the company, valued at approximately $5,216,198.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Chad F. Phipps also recently made the following trade(s):

  • On Tuesday, August 13th, Chad F. Phipps sold 32,800 shares of Zimmer Biomet stock. The shares were sold at an average price of $140.00, for a total value of $4,592,000.00.

Shares of ZBH traded up $0.36 during mid-day trading on Friday, hitting $142.97. The stock had a trading volume of 6,804 shares, compared to its average volume of 905,914. Zimmer Biomet Holdings Inc has a 52 week low of $96.99 and a 52 week high of $143.00. The business has a fifty day moving average price of $136.59 and a 200-day moving average price of $125.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56. The firm has a market cap of $28.44 billion, a P/E ratio of 18.65, a PEG ratio of 2.48 and a beta of 1.15.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Friday, July 26th. The medical equipment provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.02. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the business posted $1.92 EPS. Zimmer Biomet’s quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts expect that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Friday, September 27th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 12.57%.

A number of hedge funds have recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Zimmer Biomet by 11.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 42,723 shares of the medical equipment provider’s stock valued at $5,030,000 after purchasing an additional 4,315 shares during the last quarter. Boston Partners raised its holdings in Zimmer Biomet by 120.2% during the second quarter. Boston Partners now owns 3,863,068 shares of the medical equipment provider’s stock valued at $454,952,000 after acquiring an additional 2,108,589 shares during the period. Toronto Dominion Bank raised its holdings in Zimmer Biomet by 65.7% during the second quarter. Toronto Dominion Bank now owns 235,241 shares of the medical equipment provider’s stock valued at $27,692,000 after acquiring an additional 93,259 shares during the period. Atria Investments LLC raised its holdings in Zimmer Biomet by 1.6% during the second quarter. Atria Investments LLC now owns 6,625 shares of the medical equipment provider’s stock valued at $902,000 after acquiring an additional 105 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in Zimmer Biomet by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,222 shares of the medical equipment provider’s stock valued at $12,271,000 after acquiring an additional 544 shares during the period. 89.39% of the stock is owned by institutional investors.

A number of brokerages have issued reports on ZBH. TheStreet cut Zimmer Biomet from a “b-” rating to a “c” rating in a report on Friday, June 7th. Barclays upgraded Zimmer Biomet from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $117.00 to $140.00 in a research note on Tuesday, July 30th. Wells Fargo & Co increased their price target on Zimmer Biomet from $150.00 to $158.00 and gave the company an “outperform” rating in a research note on Monday. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Monday, August 12th. Finally, Credit Suisse Group upped their price objective on Zimmer Biomet from $101.00 to $120.00 and gave the company an “underperform” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $142.26.

About Zimmer Biomet

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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