Prudential Financial Inc. Has $11.45 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Prudential Financial Inc. lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 48.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,347 shares of the medical equipment provider’s stock after selling 100,542 shares during the period. Prudential Financial Inc. owned 0.05% of Zimmer Biomet worth $11,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dunhill Financial LLC boosted its position in shares of Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in Zimmer Biomet in the fourth quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in Zimmer Biomet in the third quarter worth approximately $35,000. Kentucky Trust Co bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $39,000. Finally, OFI Invest Asset Management acquired a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $40,000. 88.89% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Zimmer Biomet Trading Up 0.1 %

Shares of ZBH stock opened at $112.21 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. The firm has a market cap of $22.34 billion, a P/E ratio of 25.22, a PEG ratio of 1.95 and a beta of 1.04. The company has a 50 day moving average of $107.18 and a 200-day moving average of $107.01. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month 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 (EPS) for the quarter, beating 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 firm earned $2.20 EPS. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

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

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of recent research reports. Raymond James decreased 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. Stifel Nicolaus upped their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Truist Financial reiterated a “hold” rating and set a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Barclays lowered their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. Finally, Royal Bank of Canada decreased their price target on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $124.15.

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.