Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Decreased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 459,903 shares of the medical equipment provider’s stock after selling 109,685 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.23% of Zimmer Biomet worth $48,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth approximately $25,000. Dunhill Financial LLC lifted its position in Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Kentucky Trust Co acquired a new stake in shares of Zimmer Biomet during the 4th quarter valued at $39,000. OFI Invest Asset Management purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at $40,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of Zimmer Biomet by 146.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock worth $51,000 after acquiring an additional 285 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on ZBH shares. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Truist Financial reiterated a “hold” rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $124.15.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the sale, the senior vice president now 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 through this hyperlink. 0.95% of the stock is currently owned by insiders.

Zimmer Biomet Trading Down 0.8 %

Shares of ZBH opened at $112.32 on Wednesday. The stock’s 50-day moving average price is $107.29 and its 200 day moving average price is $107.14. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $130.89.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (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 quarter in the previous year, the firm earned $2.20 EPS. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s payout ratio is 21.57%.

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.