Allianz Asset Management GmbH Sells 18,906 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Allianz Asset Management GmbH reduced its stake in Zimmer Biomet by 25.7%, now holding 54,654 shares worth approximately $6.2 million.
• A total of 88.89% of Zimmer Biomet's stock is owned by institutional investors and hedge funds, indicating strong institutional interest.
• Zimmer Biomet recently announced a quarterly dividend of $0.24, payable on July 31, with a dividend yield of 0.98%.

Allianz Asset Management GmbH reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 25.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,654 shares of the medical equipment provider's stock after selling 18,906 shares during the period. Allianz Asset Management GmbH's holdings in Zimmer Biomet were worth $6,186,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Garde Capital Inc. bought a new position in shares of Zimmer Biomet during the 1st quarter valued at $29,000. Washington Trust Advisors Inc. bought a new position in shares of Zimmer Biomet during the 1st quarter worth about $30,000. Columbia River Financial Group LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter valued at about $30,000. Menard Financial Group LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at about $30,000. Finally, Cullen Frost Bankers Inc. lifted its position in shares of Zimmer Biomet by 1,452.4% during the first quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider's stock worth $37,000 after purchasing an additional 305 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of ZBH traded down $0.68 during mid-day trading on Thursday, hitting $92.64. The company's stock had a trading volume of 355,630 shares, compared to its average volume of 2,071,178. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The firm has a 50-day moving average price of $93.21 and a 200 day moving average price of $100.48. The stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.22 and a beta of 0.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 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 company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $1.94 EPS. Zimmer Biomet's quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's payout ratio is 21.24%.

Insider Activity

In related news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the insider directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ZBH has been the topic of several recent research reports. Wells Fargo & Company lowered their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. JMP Securities lowered their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. Royal Bank Of Canada reduced their price objective on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley cut their price target on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Finally, Evercore ISI decreased their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of "Hold" and a consensus target price of $111.39.

About Zimmer Biomet

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.