Associated Banc Corp Cuts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Associated Banc Corp trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,100 shares of the medical equipment provider’s stock after selling 1,613 shares during the quarter. Associated Banc Corp’s holdings in Zimmer Biomet were worth $1,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZBH. Atria Investments Inc boosted its stake in Zimmer Biomet by 60.2% in the third quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock valued at $586,000 after acquiring an additional 2,041 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Zimmer Biomet by 8.6% in the third quarter. Oppenheimer & Co. Inc. now owns 24,995 shares of the medical equipment provider’s stock valued at $2,698,000 after acquiring an additional 1,977 shares during the last quarter. KBC Group NV lifted its stake in shares of Zimmer Biomet by 64.0% during the 3rd quarter. KBC Group NV now owns 25,287 shares of the medical equipment provider’s stock valued at $2,730,000 after buying an additional 9,864 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of Zimmer Biomet by 6.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,885 shares of the medical equipment provider’s stock valued at $1,283,000 after buying an additional 671 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Zimmer Biomet by 7.4% during the 3rd quarter. CIBC Asset Management Inc now owns 29,718 shares of the medical equipment provider’s stock valued at $3,208,000 after buying an additional 2,039 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZBH has been the topic of a number of recent research reports. 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. Barclays dropped their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Price Performance

ZBH stock opened at $110.10 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $133.90. The firm’s fifty day moving average is $105.83 and its 200 day moving average is $106.97. The firm has a market cap of $21.92 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating the consensus estimate 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 quarter last year, the company posted $2.20 EPS. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. This represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.95% of the stock is currently owned by corporate insiders.

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.