Norges Bank Acquires New Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Norges Bank purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,046,987 shares of the medical equipment provider’s stock, valued at approximately $216,223,000. Norges Bank owned 1.03% of Zimmer Biomet at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ZBH. Raymond James reduced their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Stifel Nicolaus boosted their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Truist Financial reaffirmed a “hold” rating and set a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price target for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $112.21 on Monday. The stock’s fifty day simple moving average is $107.18 and its 200-day simple moving average is $107.04. The company has a market capitalization 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. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $131.61.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the business posted $2.20 EPS. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.95% of the stock is currently owned by company insiders.

About Zimmer Biomet

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.