Federated Hermes Inc. increased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 8.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 232,785 shares of the medical equipment provider’s stock after purchasing an additional 17,545 shares during the quarter. Federated Hermes Inc.’s holdings in Zimmer Biomet were worth $28,330,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in ZBH. Vanguard Group Inc. grew its holdings in shares of Zimmer Biomet by 19.0% during the first quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after buying an additional 3,695,510 shares in the last quarter. American Century Companies Inc. boosted its position in Zimmer Biomet by 21.2% during the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after acquiring an additional 852,186 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Zimmer Biomet by 2.3% in the first quarter. Geode Capital Management LLC now owns 4,315,167 shares of the medical equipment provider’s stock valued at $556,244,000 after purchasing an additional 96,028 shares during the last quarter. Morgan Stanley lifted its position in shares of Zimmer Biomet by 80.5% in the fourth quarter. Morgan Stanley now owns 3,102,429 shares of the medical equipment provider’s stock worth $395,560,000 after purchasing an additional 1,384,068 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Zimmer Biomet by 4.9% during the third quarter. Victory Capital Management Inc. now owns 3,080,463 shares of the medical equipment provider’s stock worth $345,690,000 after purchasing an additional 144,147 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. StockNews.com lowered Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Citigroup boosted their price target on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.39.
Read Our Latest Stock Analysis on Zimmer Biomet
Zimmer Biomet Stock Performance
NYSE:ZBH opened at $119.43 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $126.33 and a 200 day simple moving average of $119.22. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $149.25. The stock has a market cap of $24.54 billion, a P/E ratio of 24.42, a PEG ratio of 2.19 and a beta of 1.01.
Zimmer Biomet (NYSE:ZBH – Get Free Report) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.
Zimmer Biomet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio is presently 19.63%.
Insider Activity
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 sale, the vice president now owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is owned by company insiders.
About Zimmer Biomet
(Free Report)
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.
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