Allspring Global Investments Holdings LLC Raises Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Allspring Global Investments Holdings LLC increased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,569,311 shares of the medical equipment provider’s stock after acquiring an additional 9,990 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Zimmer Biomet were worth $277,357,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after acquiring an additional 1,215,935 shares during the period. American Century Companies Inc. grew its position in Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after acquiring an additional 722,041 shares during the period. Victory Capital Management Inc. grew its position in Zimmer Biomet by 6.7% in the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after acquiring an additional 211,637 shares during the period. Van ECK Associates Corp grew its position in Zimmer Biomet by 5.3% in the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after acquiring an additional 167,038 shares during the period. Finally, Boston Partners lifted its stake in Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group decreased their price target on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group decreased their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Morgan Stanley decreased their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Finally, Robert W. Baird reduced their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average target price of $123.74.

Zimmer Biomet Stock Up 1.3 %

NYSE:ZBH traded up $1.36 during trading hours on Friday, hitting $106.31. The company’s stock had a trading volume of 1,081,686 shares, compared to its average volume of 1,451,155. The stock has a market capitalization of $21.87 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The stock has a fifty day moving average of $108.11 and a 200-day moving average of $112.31. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a 52-week low of $101.47 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is 20.78%.

Zimmer Biomet 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.