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Lori Winkler, Senior Vice President and Chief Human Resources Officer at Zimmer Biomet Holdings, Inc. (NYSE:ZBH), recently sold shares of the company’s stock, according to a filing with the Securities and Exchange Commission. On March 5, Winkler sold 1,443 shares at a price of $104.40 each, totaling $150,649. Following this transaction, she holds 8,768 shares directly. The $21.5 billion medical device company, which InvestingPro analysis suggests is currently undervalued, has maintained strong financial metrics with a 71.6% gross profit margin and $7.7 billion in annual revenue.
Additionally, on March 6, Winkler acquired 1,757 shares through the vesting of restricted stock units (RSUs), which were priced at zero dollars per share. This acquisition brought her total direct ownership to 10,525 shares. On the same day, 692 shares were withheld by the company to cover tax obligations related to the RSU vesting, valued at $104.86 per share, amounting to $72,563. InvestingPro data reveals that management has been aggressively buying back shares, demonstrating confidence in the company’s future. Subscribers can access 5 additional exclusive ProTips and a comprehensive Pro Research Report for deeper insights.
These transactions provide insight into Winkler’s current holdings and recent activities within the company. Zimmer Biomet, headquartered in Warsaw, Indiana, specializes in orthopedic, prosthetic, and surgical appliances and supplies. The company trades at a P/E ratio of 24.2 and has maintained dividend payments for 14 consecutive years, showcasing its financial stability.
In other recent news, Zimmer Biomet Holdings, Inc. announced a series of financial and strategic developments. The company has issued new notes totaling $1.75 billion, with varying maturity dates and interest rates, as part of its ongoing business plans, including the pending acquisition of Paragon 28. If the merger with Paragon 28 is not completed by the specified date, Zimmer Biomet will need to redeem certain notes at a special mandatory redemption price. Additionally, the company declared a quarterly cash dividend of $0.24 per share, reflecting its commitment to returning value to shareholders.
In leadership changes, Jehanzeb Noor has been appointed as the new Senior Vice President, Chief Strategy, Innovation and Business Development Officer, tasked with overseeing strategic initiatives and mergers. The company also announced that Ivan Tornos, the current President and CEO, will assume the role of Chairman of the Board following the retirement of Christopher Begley. Michael Farrell will become the Lead Independent (LON:IOG) Director.
On the analyst front, Citi maintained a Neutral rating on Zimmer Biomet with a price target of $118, noting conservative full-year guidance but potential for upside. The analysts indicated that foreign exchange pressures and the timing of new product launches could influence the company’s financial outlook. These recent developments underscore Zimmer Biomet’s strategic efforts to enhance its market position and financial stability.
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