abrdn plc Buys 1,982 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

abrdn plc increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,283 shares of the medical equipment provider’s stock after purchasing an additional 1,982 shares during the quarter. abrdn plc owned 0.19% of Zimmer Biomet worth $39,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZBH. Equity Investment Corp bought a new position in shares of Zimmer Biomet during the third quarter valued at $70,104,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Zimmer Biomet by 49.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after purchasing an additional 577,320 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Zimmer Biomet by 12.4% during the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after purchasing an additional 411,163 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Zimmer Biomet during the third quarter valued at $41,588,000. Finally, FMR LLC lifted its holdings in shares of Zimmer Biomet by 27.6% during the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after purchasing an additional 162,384 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ZBH has been the topic of a number of recent research reports. Raymond James lowered their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Barclays lowered their target price on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company increased their target price on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Royal Bank of Canada increased their target price on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their target price for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $124.11.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $108.27 on Thursday. The stock has a 50 day moving average of $107.82 and a 200 day moving average of $108.20. Zimmer Biomet Holdings, Inc. has a 12 month low of $100.67 and a 12 month high of $133.90. The firm has a market cap of $21.55 billion, a PE ratio of 20.58, a PEG ratio of 1.88 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, December 30th. Zimmer Biomet’s payout ratio is presently 18.25%.

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.