2,046,987 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Bought by Norges Bank

Norges Bank bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,046,987 shares of the medical equipment provider’s stock, valued at approximately $216,223,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in shares of Zimmer Biomet during the 4th quarter valued at about $25,000. Dunhill Financial LLC grew its holdings in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Kentucky Trust Co bought a new position in shares of Zimmer Biomet in the fourth quarter valued at approximately $39,000. OFI Invest Asset Management acquired a new stake in shares of Zimmer Biomet in the fourth quarter worth $40,000. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Zimmer Biomet by 146.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock worth $51,000 after buying an additional 285 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $112.21 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The stock’s fifty day simple moving average is $107.18 and its 200 day simple moving average is $107.04. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $131.61. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping 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 period last year, the business posted $2.20 EPS. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s dividend payout ratio (DPR) is currently 21.57%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial reissued a “hold” rating and set a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded 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 research note on Tuesday, December 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Royal Bank of Canada reduced their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Stifel Nicolaus boosted their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Two 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $124.15.

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.