Aviva PLC cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,458 shares of the medical equipment provider’s stock after selling 1,098 shares during the period. Aviva PLC’s holdings in Zimmer Biomet were worth $21,933,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. Vanguard Group Inc. boosted its stake in shares of Zimmer Biomet by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after buying an additional 3,695,510 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Zimmer Biomet by 18.1% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 10,549,223 shares of the medical equipment provider’s stock worth $1,102,922,000 after buying an additional 1,619,881 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Zimmer Biomet by 657.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,393,963 shares of the medical equipment provider’s stock worth $177,730,000 after buying an additional 1,209,827 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Zimmer Biomet by 781.7% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,183,372 shares of the medical equipment provider’s stock valued at $123,722,000 after purchasing an additional 1,049,159 shares during the last quarter. Finally, Eaton Vance Management lifted its stake in Zimmer Biomet by 489.0% in the 1st quarter. Eaton Vance Management now owns 1,175,757 shares of the medical equipment provider’s stock valued at $150,381,000 after purchasing an additional 976,153 shares during the last quarter. 87.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein raised their target price on shares of Zimmer Biomet from $136.00 to $152.00 in a research note on Wednesday, May 3rd. 888 reissued a “maintains” rating on shares of Zimmer Biomet in a report on Thursday, May 18th. Truist Financial lowered their price target on shares of Zimmer Biomet from $153.00 to $147.00 in a report on Thursday, May 18th. Robert W. Baird increased their price target on shares of Zimmer Biomet from $145.00 to $172.00 in a report on Wednesday, May 3rd. Finally, Piper Sandler raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price target for the company from $135.00 to $145.00 in a report on Thursday, March 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $143.67.
Zimmer Biomet Stock Performance
Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its earnings results on Tuesday, May 2nd. The medical equipment provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.25. Zimmer Biomet had a net margin of 6.33% and a return on equity of 12.43%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business posted $1.61 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.45 earnings per share for the current fiscal year.
Zimmer Biomet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, June 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 0.75%. Zimmer Biomet’s dividend payout ratio is currently 44.86%.
Insider Buying and Selling at Zimmer Biomet
In other news, VP Chad F. Phipps sold 23,045 shares of Zimmer Biomet stock in a transaction on Friday, March 17th. The shares were sold at an average price of $124.50, for a total transaction of $2,869,102.50. Following the transaction, the vice president now owns 43,671 shares in the company, valued at $5,437,039.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.95% of the company’s stock.
Zimmer Biomet Company Profile
Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.
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