Sound Shore Management Inc. CT Invests $81.45 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sound Shore Management Inc. CT purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 771,063 shares of the medical equipment provider's stock, valued at approximately $81,447,000. Zimmer Biomet comprises approximately 2.7% of Sound Shore Management Inc. CT's investment portfolio, making the stock its 16th largest holding. Sound Shore Management Inc. CT owned 0.39% of Zimmer Biomet at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Roman Butler Fullerton & Co. purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at about $473,000. Geode Capital Management LLC boosted its position 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 valued at $524,942,000 after purchasing an additional 125,852 shares in the last quarter. M&T Bank Corp grew its stake 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 worth $2,884,000 after purchasing an additional 8,709 shares during the period. KLCM Advisors Inc. purchased a new position in Zimmer Biomet during the fourth quarter valued at $7,825,000. Finally, Peddock Capital Advisors LLC bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $654,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was 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 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 filing with the SEC, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

ZBH has been the topic of several analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Truist Financial reiterated a "hold" rating and set a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JMP Securities restated a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Royal Bank of Canada cut their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Stifel Nicolaus upped their price target 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. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $124.15.

Zimmer Biomet Trading Down 0.7 %

Shares of NYSE ZBH traded down $0.74 during mid-day trading on Tuesday, reaching $110.50. The company had a trading volume of 1,296,857 shares, compared to its average volume of 1,497,421. The stock has a market cap of $22.00 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $133.90. The business's 50-day moving average is $106.98 and its 200-day moving average is $106.90. 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 (NYSE:ZBH - Get Free Report) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping 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 quarter last year, the firm earned $2.20 EPS. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given 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 0.87%. Zimmer Biomet's payout ratio is presently 21.57%.

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.