Diametric Capital LP Takes Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Diametric Capital LP bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,604 shares of the medical equipment provider’s stock, valued at approximately $381,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. Intech Investment Management LLC increased its stake in Zimmer Biomet by 21.3% during the 3rd quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock worth $257,000 after purchasing an additional 417 shares in the last quarter. FMR LLC boosted its holdings in shares of Zimmer Biomet by 27.6% in the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after buying an additional 162,384 shares during the period. Townsquare Capital LLC acquired a new stake in shares of Zimmer Biomet during the third quarter worth $341,000. Public Sector Pension Investment Board lifted its position in Zimmer Biomet by 7.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 8,620 shares of the medical equipment provider’s stock valued at $931,000 after acquiring an additional 600 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Zimmer Biomet in the 3rd quarter worth $4,476,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.95% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $112.32 on Wednesday. The company has a market cap of $22.36 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.95 and a beta of 1.04. The firm’s fifty day moving average price is $107.29 and its two-hundred day moving average price is $107.14. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $130.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period last year, the company posted $2.20 EPS. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 yield of 0.85%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ZBH shares. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Truist Financial reaffirmed a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Stifel Nicolaus boosted their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Barclays decreased their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Finally, Raymond James cut their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Two equities research 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, the stock has a consensus rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet 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.