Rhenman & Partners Asset Management AB Purchases New Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Rhenman & Partners Asset Management AB acquired a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 124,000 shares of the medical equipment provider’s stock, valued at approximately $13,098,000. Rhenman & Partners Asset Management AB owned 0.06% of Zimmer Biomet as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ZBH. Resona Asset Management Co. Ltd. purchased a new stake in Zimmer Biomet during the 4th quarter worth $6,516,000. Prudential PLC grew its stake in shares of Zimmer Biomet by 4.1% during the fourth quarter. Prudential PLC now owns 73,981 shares of the medical equipment provider’s stock valued at $7,815,000 after acquiring an additional 2,936 shares in the last quarter. Atlas Capital Advisors Inc. increased its position in shares of Zimmer Biomet by 2,385.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,126 shares of the medical equipment provider’s stock worth $436,000 after acquiring an additional 3,960 shares during the last quarter. Magellan Asset Management Ltd lifted its stake in shares of Zimmer Biomet by 43.7% in the fourth quarter. Magellan Asset Management Ltd now owns 394,374 shares of the medical equipment provider’s stock worth $41,658,000 after acquiring an additional 119,869 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its holdings in Zimmer Biomet by 22.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 183,395 shares of the medical equipment provider’s stock valued at $19,372,000 after purchasing an additional 33,086 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $107.46 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $129.50. The company has a market cap of $21.39 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.95 and a beta of 1.04. 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 stock’s 50-day simple moving average is $107.32 and its 200 day simple moving average is $107.21.

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 net margin of 11.77% and a return on equity of 12.99%. During the same period in the prior year, the firm posted $2.20 earnings per share. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is 21.57%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZBH. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Truist Financial reaffirmed a “hold” rating and set a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Raymond James decreased their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $124.15.

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.