Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Short Interest Update

Key Points

• Zimmer Biomet Holdings faced a staggering increase in short interest, rising by 50,872.2% in July, with a total of 7,340,000 shares short sold.
• Insider Sang Yi sold 1,000 shares of Zimmer Biomet's stock for $95,000, which decreased their ownership by 4.67%.
• The company declared a quarterly dividend of $0.24, resulting in a 1.1% dividend yield and a payout ratio of 21.24%.

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 7,340,000 shares, agrowthof50,872.2% from the June 30th total of 14,400 shares. Approximately3.7% of the company's shares are short sold. Based on an average daily volume of 2,200,000 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily volume of 2,200,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately3.7% of the company's shares are short sold.

Insider Buying and Selling

In related news, insider Sang Yi sold 1,000 shares of the company'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 owned 20,424 shares in the company, valued at approximately $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.39% of the company's stock.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently modified their holdings of the business. MGO One Seven LLC increased its stake in shares of Zimmer Biomet by 5.1% in the 4th 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 last quarter. Janney Montgomery Scott LLC increased its stake in shares of 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 during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Zimmer Biomet by 3.3% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,865 shares of the medical equipment provider's stock valued at $376,000 after acquiring an additional 124 shares in the last quarter. Private Trust Co. NA grew its position in Zimmer Biomet by 14.6% during the 2nd quarter. Private Trust Co. NA now owns 1,073 shares of the medical equipment provider's stock worth $98,000 after acquiring an additional 137 shares during the last quarter. Finally, Curbstone Financial Management Corp grew its position in Zimmer Biomet by 3.4% during the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock worth $483,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ZBH. Evercore ISI dropped their price objective 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 lowered their price target on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Robert W. Baird reduced their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, Roth Capital upgraded shares of Zimmer Biomet from a "neutral" rating to a "buy" rating and set a $135.00 price target for the company in a report on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $111.39.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded down $1.08 during mid-day trading on Friday, reaching $90.57. 1,608,623 shares of the company were exchanged, compared to its average volume of 2,077,488. The company has a fifty day simple moving average of $93.21 and a 200-day simple moving average of $100.39. Zimmer Biomet has a 12 month low of $89.22 and a 12 month high of $116.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The firm has a market cap of $17.92 billion, a PE ratio of 20.02, a PEG ratio of 2.18 and a beta of 0.71.

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

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were paid a $0.24 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

Zimmer Biomet Company Profile

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.

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