Allstate Corp Takes $669,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Allstate Corp purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,329 shares of the medical equipment provider's stock, valued at approximately $669,000.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Zimmer Biomet during the fourth quarter valued at $216,223,000. Sound Shore Management Inc. CT purchased a new position in Zimmer Biomet in the 4th quarter valued at about $81,447,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Zimmer Biomet by 49.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider's stock worth $189,161,000 after purchasing an additional 577,320 shares during the last quarter. Equity Investment Corp raised its position in shares of Zimmer Biomet by 57.2% in the fourth quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider's stock valued at $107,855,000 after buying an additional 371,653 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock valued at $417,814,000 after buying an additional 218,688 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

Several research analysts have weighed in on ZBH shares. Truist Financial reiterated a "hold" rating and issued a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Royal Bank of Canada decreased their price target on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Barclays lowered their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating for the company in a report on Monday, February 10th. Finally, Raymond James decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $124.15.

Zimmer Biomet Stock Performance

ZBH traded up $0.22 during trading hours on Thursday, hitting $112.72. The company's stock had a trading volume of 2,920,590 shares, compared to its average volume of 1,575,555. The company has a 50-day simple moving average of $107.35 and a 200 day simple moving average of $107.18. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $22.44 billion, a PE ratio of 25.33, a PEG ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $97.69 and a fifty-two week high of $130.89.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued 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 return on equity of 12.99% and a net margin of 11.77%. During the same quarter last year, the business earned $2.20 EPS. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

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