Wedge Capital Management L L P NC Purchases 4,000 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wedge Capital Management L L P NC raised its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,822 shares of the medical equipment provider’s stock after purchasing an additional 4,000 shares during the period. Wedge Capital Management L L P NC owned 0.06% of Zimmer Biomet worth $15,069,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in Zimmer Biomet by 21.2% in the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after purchasing an additional 852,186 shares during the period. Boston Partners grew its holdings in Zimmer Biomet by 29.2% in the 3rd quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock worth $302,366,000 after acquiring an additional 608,959 shares during the last quarter. Barclays PLC grew its holdings in Zimmer Biomet by 129.2% in the 3rd quarter. Barclays PLC now owns 1,072,494 shares of the medical equipment provider’s stock worth $120,356,000 after acquiring an additional 604,652 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Zimmer Biomet in the 3rd quarter worth $57,972,000. Finally, Jupiter Asset Management Ltd. bought a new stake in Zimmer Biomet in the 3rd quarter worth $50,763,000. 88.89% of the stock is owned by institutional investors.

Insider Transactions at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

ZBH has been the topic of a number of recent analyst reports. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Canaccord Genuity Group reissued a “hold” rating and set a $130.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 23rd. Barclays lifted their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. Finally, Truist Financial lifted their target price on shares of Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $139.39.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded down $0.25 during mid-day trading on Tuesday, hitting $120.53. The stock had a trading volume of 84,789 shares, compared to its average volume of 1,455,657. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $149.25. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $24.76 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.19 and a beta of 1.01. The firm’s 50 day moving average is $126.23 and its 200 day moving average is $119.37.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $1.88 earnings per share. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 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 Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio (DPR) is 19.63%.

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.