Allianz SE Buys Shares of 29,404 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Allianz SE purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 29,404 shares of the medical equipment provider's stock, valued at approximately $3,099,000.

Other hedge funds have also made changes to their positions in the company. Intrust Bank NA raised its position in Zimmer Biomet by 31.4% in the fourth quarter. Intrust Bank NA now owns 2,872 shares of the medical equipment provider's stock worth $303,000 after acquiring an additional 687 shares in the last quarter. Allstate Corp purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at $669,000. DnB Asset Management AS boosted its position in shares of Zimmer Biomet by 2.7% in the 4th quarter. DnB Asset Management AS now owns 36,997 shares of the medical equipment provider's stock valued at $3,908,000 after purchasing an additional 957 shares during the period. Pictet Asset Management Holding SA increased its stake in Zimmer Biomet by 13.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 120,615 shares of the medical equipment provider's stock worth $12,741,000 after purchasing an additional 14,609 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Zimmer Biomet by 0.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 60,434 shares of the medical equipment provider's stock worth $6,384,000 after buying an additional 468 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the 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 sale, the senior vice president now owns 8,768 shares of the company's stock, valued at $915,379.20. This represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.95% of the company's stock.

Remove Ads

Zimmer Biomet Stock Performance

Shares of ZBH stock traded down $0.86 during mid-day trading on Tuesday, reaching $112.32. The stock had a trading volume of 1,398,140 shares, compared to its average volume of 1,566,569. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $131.61. The firm has a market cap of $22.36 billion, a PE ratio of 25.24, a P/E/G ratio of 1.95 and a beta of 1.04. The firm's 50 day simple moving average is $107.26 and its 200 day simple moving average is $107.10. 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 (NYSE:ZBH - Get Free Report) last posted its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share 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 in the previous year, the company earned $2.20 EPS. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's dividend payout ratio is currently 21.57%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZBH. Truist Financial restated a "hold" rating and set a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. JMP Securities reissued a "market outperform" rating and set a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Barclays decreased their target price 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. Raymond James reduced their price objective on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research note 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 given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.