Corebridge Financial Inc. Lowers Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Corebridge Financial Inc. trimmed its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,657 shares of the medical equipment provider’s stock after selling 3,440 shares during the quarter. Corebridge Financial Inc.’s holdings in Zimmer Biomet were worth $5,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ZBH. Roman Butler Fullerton & Co. purchased a new position in Zimmer Biomet in the 4th quarter valued at $473,000. Geode Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after acquiring an additional 125,852 shares in the last quarter. M&T Bank Corp increased its stake in shares of Zimmer Biomet by 48.4% during the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after acquiring an additional 8,709 shares during the period. KLCM Advisors Inc. purchased a new position in Zimmer Biomet during the fourth quarter worth about $7,825,000. Finally, Peddock Capital Advisors LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at about $654,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Up 0.1 %

Shares of NYSE ZBH opened at $112.21 on Friday. The firm’s 50 day moving average price is $107.18 and its 200 day moving average price is $107.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The firm has a market cap of $22.34 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $131.61.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the company earned $2.20 earnings per share. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Zimmer Biomet’s payout ratio is 21.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZBH. Stifel Nicolaus increased their target price on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Barclays lowered their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $124.15.

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.