Prudential PLC Purchases 2,936 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Prudential PLC lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,981 shares of the medical equipment provider’s stock after acquiring an additional 2,936 shares during the quarter. Prudential PLC’s holdings in Zimmer Biomet were worth $7,815,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Roman Butler Fullerton & Co. bought a new stake in Zimmer Biomet during the 4th quarter worth about $473,000. Geode Capital Management LLC raised its stake in shares of Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares during the last quarter. M&T Bank Corp lifted its holdings in Zimmer Biomet by 48.4% in the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock valued at $2,884,000 after buying an additional 8,709 shares during the period. KLCM Advisors Inc. bought a new position in Zimmer Biomet in the fourth quarter valued at approximately $7,825,000. Finally, Peddock Capital Advisors LLC bought a new position in Zimmer Biomet in the fourth quarter valued at approximately $654,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Buying and Selling

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 transaction of $150,649.20. Following the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $107.46 on Friday. 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 12 month low of $97.69 and a 12 month high of $129.50. The firm has a fifty day simple moving average of $107.32 and a 200 day simple moving average of $107.21. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share 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 in the previous year, the business posted $2.20 earnings per share. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced 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 is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

Analyst Upgrades and Downgrades

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