Wedge Capital Management L L P NC Has $15.07 Million Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wedge Capital Management L L P NC increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,822 shares of the medical equipment provider’s stock after acquiring an additional 4,000 shares during the period. Wedge Capital Management L L P NC’s holdings in Zimmer Biomet were worth $15,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Zimmer Biomet by 21.2% during the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after buying an additional 852,186 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Zimmer Biomet by 4.9% during the third quarter. Victory Capital Management Inc. now owns 3,080,463 shares of the medical equipment provider’s stock worth $345,690,000 after purchasing an additional 144,147 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Zimmer Biomet by 16.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock worth $335,895,000 after purchasing an additional 386,019 shares during the last quarter. Boston Partners boosted its holdings in Zimmer Biomet by 29.2% during the third quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock worth $302,366,000 after purchasing an additional 608,959 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Zimmer Biomet by 4.5% during the third quarter. Northern Trust Corp now owns 2,653,334 shares of the medical equipment provider’s stock worth $297,757,000 after purchasing an additional 113,139 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Zimmer Biomet Stock Down 0.2 %

ZBH stock traded down $0.25 during trading on Tuesday, hitting $120.53. 84,789 shares of the stock traded hands, compared to its average volume of 1,455,657. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The firm’s 50 day moving average is $126.23 and its two-hundred day moving average is $119.37. The stock has a market cap of $24.76 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 EPS. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s payout ratio is presently 19.63%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ZBH. Citigroup increased their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Raymond James increased their price target on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. increased their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 9th. Finally, Truist Financial raised their price target on shares of Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $139.39.

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.