Zimmer Biomet Holdings Inc (NYSE:ZBH) Shares Sold by Riverhead Capital Management LLC

Riverhead Capital Management LLC cut its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 28.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,926 shares of the medical equipment provider’s stock after selling 2,700 shares during the quarter. Riverhead Capital Management LLC’s holdings in Zimmer Biomet were worth $816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Zimmer Biomet by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,076,723 shares of the medical equipment provider’s stock worth $111,669,000 after buying an additional 77,026 shares during the last quarter. Geode Capital Management LLC grew its stake in Zimmer Biomet by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 2,641,717 shares of the medical equipment provider’s stock worth $273,516,000 after purchasing an additional 205,532 shares in the last quarter. Janus Henderson Group PLC grew its stake in Zimmer Biomet by 34.6% in the first quarter. Janus Henderson Group PLC now owns 72,118 shares of the medical equipment provider’s stock worth $9,210,000 after purchasing an additional 18,553 shares in the last quarter. United Bank increased its holdings in Zimmer Biomet by 9.9% in the first quarter. United Bank now owns 11,003 shares of the medical equipment provider’s stock valued at $1,405,000 after buying an additional 988 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Zimmer Biomet by 64.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 60,410 shares of the medical equipment provider’s stock valued at $7,713,000 after buying an additional 23,685 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors.

Shares of ZBH traded up $2.39 during midday trading on Wednesday, hitting $140.91. 24,454 shares of the stock traded hands, compared to its average volume of 902,693. Zimmer Biomet Holdings Inc has a 1-year low of $96.99 and a 1-year high of $140.71. The firm has a market capitalization of $28.44 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.19. The business’s 50 day moving average price is $136.28 and its two-hundred day moving average price is $125.26.

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

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, September 27th. Zimmer Biomet’s dividend payout ratio (DPR) is 12.57%.

ZBH has been the topic of a number of research analyst reports. Credit Suisse Group increased their target price on Zimmer Biomet from $101.00 to $120.00 and gave the stock an “underperform” rating in a report on Monday, July 29th. ValuEngine lowered Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Jefferies Financial Group boosted their price target on Zimmer Biomet from $150.00 to $167.00 and gave the company a “buy” rating in a report on Monday, July 29th. They noted that the move was a valuation call. Sanford C. Bernstein raised Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price target on the stock in a research report on Tuesday, June 11th. Finally, Oppenheimer raised their price objective on Zimmer Biomet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $142.26.

In related news, insider Didier Deltort sold 360 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $139.25, for a total value of $50,130.00. Following the completion of the transaction, the insider now directly owns 1,194 shares of the company’s stock, valued at approximately $166,264.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chad F. Phipps sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $138.28, for a total value of $967,960.00. Following the completion of the transaction, the vice president now directly owns 37,722 shares of the company’s stock, valued at $5,216,198.16. The disclosure for this sale can be found here. Insiders sold 40,391 shares of company stock worth $5,642,274 in the last 90 days. 0.72% of the stock is owned by company insiders.

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.

Recommended Story: How to invest using market indexes

Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings Inc (NYSE:ZBH).

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

Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.