Tavio Capital LLC Has $40.89 Million Stock Holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH)

Tavio Capital LLC reduced its position in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 347,259 shares of the medical equipment provider’s stock after selling 32,518 shares during the quarter. Zimmer Biomet makes up 16.6% of Tavio Capital LLC’s portfolio, making the stock its largest holding. Tavio Capital LLC owned approximately 0.17% of Zimmer Biomet worth $40,886,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. US Bancorp DE lifted its holdings in shares of Zimmer Biomet by 1.4% during the second quarter. US Bancorp DE now owns 137,141 shares of the medical equipment provider’s stock valued at $16,147,000 after acquiring an additional 1,912 shares during the period. ETRADE Capital Management LLC bought a new position in shares of Zimmer Biomet during the second quarter valued at $323,000. HighTower Advisors LLC lifted its holdings in shares of Zimmer Biomet by 6.5% during the second quarter. HighTower Advisors LLC now owns 65,496 shares of the medical equipment provider’s stock valued at $7,729,000 after acquiring an additional 3,973 shares during the period. Ardsley Advisory Partners LP bought a new position in shares of Zimmer Biomet during the second quarter valued at $824,000. Finally, AXA lifted its holdings in shares of Zimmer Biomet by 77.6% during the second quarter. AXA now owns 346,858 shares of the medical equipment provider’s stock valued at $40,839,000 after acquiring an additional 151,607 shares during the period. 89.39% of the stock is owned by hedge funds and other institutional investors.

ZBH stock traded down $3.84 during midday trading on Friday, reaching $138.77. The stock had a trading volume of 41,599 shares, compared to its average volume of 905,914. The business has a fifty day simple moving average of $136.59 and a two-hundred day simple moving average of $125.34. The company has a quick ratio of 0.56, a current ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market cap of $28.44 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.48 and a beta of 1.15. Zimmer Biomet Holdings Inc has a twelve month low of $96.99 and a twelve month high of $143.00.

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

The company 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 $0.24 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.69%. Zimmer Biomet’s payout ratio is 12.57%.

A number of brokerages have issued reports on ZBH. Jefferies Financial Group lifted their price objective 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. Cowen set a $140.00 price objective on Zimmer Biomet and gave the company a “hold” rating in a report on Friday, July 26th. Sanford C. Bernstein raised Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price objective for the company in a report on Tuesday, June 11th. Oppenheimer lifted their price target on Zimmer Biomet from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Citigroup lifted their price target on Zimmer Biomet from $146.00 to $158.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $142.26.

In related news, VP Chad F. Phipps sold 32,800 shares of Zimmer Biomet stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $140.00, for a total value of $4,592,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Didier Deltort sold 360 shares of Zimmer Biomet stock in a transaction dated 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 sale, the insider now owns 1,194 shares of the company’s stock, valued at $166,264.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,391 shares of company stock valued at $5,642,274. Corporate insiders own 0.72% of the company’s stock.

Zimmer Biomet 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.

See Also: Earnings Per Share

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

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