Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 42.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,432 shares of the medical equipment provider’s stock after selling 34,935 shares during the quarter. Sit Investment Associates Inc.’s holdings in Zimmer Biomet were worth $5,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ZBH. CKW Financial Group grew its position in shares of Zimmer Biomet by 11.7% during the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Romano Brothers AND Company grew its holdings in Zimmer Biomet by 1.1% during the 4th quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock worth $1,000,000 after acquiring an additional 102 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Zimmer Biomet by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock worth $485,000 after purchasing an additional 102 shares during the last quarter. M&T Bank Corp raised its stake in shares of Zimmer Biomet by 0.4% in the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider’s stock valued at $2,834,000 after purchasing an additional 108 shares in the last quarter. Finally, Dakota Wealth Management raised its stake in Zimmer Biomet by 1.3% during the fourth quarter. Dakota Wealth Management now owns 9,620 shares of the medical equipment provider’s stock valued at $1,016,000 after buying an additional 122 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Down 4.6 %

Zimmer Biomet stock opened at $107.46 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $129.50. The company’s fifty day simple moving average is $107.32 and its 200-day simple moving average is $107.22. The stock has a market cap of $21.39 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.95 and a beta of 1.04.

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, topping the consensus estimate 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 last year, the company posted $2.20 EPS. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is 21.57%.

Insider Activity

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ZBH shares. Royal Bank of Canada dropped their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Barclays reduced their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Truist Financial reissued a “hold” rating and set a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.