Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Position Cut by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 41.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 193,119 shares of the medical equipment provider’s stock after selling 135,747 shares during the period. Handelsbanken Fonder AB’s holdings in Zimmer Biomet were worth $23,503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PFG Advisors raised its stake in shares of Zimmer Biomet by 4.6% during the fourth quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after purchasing an additional 84 shares in the last quarter. Quent Capital LLC raised its stake in shares of Zimmer Biomet by 21.6% during the fourth quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 92 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Zimmer Biomet by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock valued at $227,000 after purchasing an additional 97 shares in the last quarter. Financial Advocates Investment Management raised its stake in shares of Zimmer Biomet by 3.8% during the third quarter. Financial Advocates Investment Management now owns 2,625 shares of the medical equipment provider’s stock valued at $295,000 after purchasing an additional 97 shares in the last quarter. Finally, Stokes Family Office LLC raised its stake in shares of Zimmer Biomet by 4.1% during the third quarter. Stokes Family Office LLC now owns 2,498 shares of the medical equipment provider’s stock valued at $280,000 after purchasing an additional 99 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ZBH shares. StockNews.com lowered Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Truist Financial lifted their target price on Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Evercore ISI lifted their target price on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $139.39.

Zimmer Biomet Stock Up 1.1 %

Shares of Zimmer Biomet stock opened at $120.78 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. The company has a market capitalization of $24.82 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The business has a 50-day moving average of $126.23 and a two-hundred day moving average of $119.37.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. Zimmer Biomet’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 19.63%.

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.