PGGM Investments Has $2.98 Million Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

PGGM Investments boosted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,603 shares of the medical equipment provider’s stock after purchasing an additional 543 shares during the period. PGGM Investments’ holdings in Zimmer Biomet were worth $2,983,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ZBH. Price T Rowe Associates Inc. MD lifted its position in shares of Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after buying an additional 484,151 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Zimmer Biomet by 3.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock valued at $389,355,000 after buying an additional 118,839 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Zimmer Biomet by 11.3% in the first quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after buying an additional 320,002 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Zimmer Biomet by 16.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock valued at $335,895,000 after buying an additional 386,019 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ZBH. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. Truist Financial lowered their target price on Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Oppenheimer increased their target price on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Morgan Stanley lowered their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Finally, Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $129.81.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $0.76 during mid-day trading on Friday, hitting $110.36. 1,190,049 shares of the stock traded hands, compared to its average volume of 1,378,932. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The company has a market cap of $22.70 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. The firm has a 50 day simple moving average of $109.75 and a two-hundred day simple moving average of $119.14.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the business posted $1.89 EPS. Zimmer Biomet’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date was Wednesday, June 26th. Zimmer Biomet’s payout ratio is presently 20.78%.

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.