Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 105,920 shares of the medical equipment provider’s stock after acquiring an additional 1,688 shares during the period. Wedge Capital Management L L P NC’s holdings in Zimmer Biomet were worth $11,188,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Common Asset Management LLC boosted its stake in Zimmer Biomet by 1.1% in the 4th quarter. Boston Common Asset Management LLC now owns 49,752 shares of the medical equipment provider’s stock worth $5,255,000 after purchasing an additional 528 shares during the period. Border to Coast Pensions Partnership Ltd boosted its stake in Zimmer Biomet by 90.4% in the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 295,605 shares of the medical equipment provider’s stock worth $31,204,000 after purchasing an additional 140,351 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in Zimmer Biomet by 60.9% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 4,649 shares of the medical equipment provider’s stock worth $491,000 after purchasing an additional 1,759 shares during the period. Gateway Investment Advisers LLC boosted its stake in Zimmer Biomet by 184.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 6,133 shares of the medical equipment provider’s stock worth $648,000 after purchasing an additional 3,980 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Zimmer Biomet by 1.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 28,490 shares of the medical equipment provider’s stock worth $3,009,000 after purchasing an additional 345 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $109.65 on Friday. The company has a market capitalization of $21.83 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $100.67 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company’s fifty day moving average price is $107.84 and its 200 day moving average price is $107.99.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $1.65 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Zimmer Biomet’s payout ratio is 18.25%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZBH. Barclays decreased their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research note on Thursday, December 12th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Royal Bank of Canada lifted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Finally, Truist Financial lifted their target price on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $123.33.

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.