Bridgewater Associates LP Buys 19,866 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bridgewater Associates LP lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,493 shares of the medical equipment provider's stock after buying an additional 19,866 shares during the quarter. Bridgewater Associates LP owned about 0.10% of Zimmer Biomet worth $21,178,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its holdings in Zimmer Biomet by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock worth $417,814,000 after acquiring an additional 218,688 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Zimmer Biomet by 398.7% during the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after buying an additional 2,796,372 shares in the last quarter. Norges Bank bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at $216,223,000. FMR LLC boosted its stake in Zimmer Biomet by 91.6% during the fourth quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock worth $151,897,000 after acquiring an additional 687,675 shares in the last quarter. Finally, Equity Investment Corp grew its holdings in 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 worth $107,855,000 after purchasing an additional 371,653 shares during the period. Institutional investors own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZBH. Truist Financial reiterated a "hold" rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Stifel Nicolaus raised their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Barclays lowered their target price on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research report on Monday, February 10th. Raymond James decreased their price target 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. Finally, BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $124.15.

Zimmer Biomet Stock Performance

Shares of ZBH traded down $3.86 during trading hours on Monday, hitting $94.06. The company's stock had a trading volume of 268,614 shares, compared to its average volume of 1,647,583. The business has a 50 day simple moving average of $105.92 and a two-hundred day simple moving average of $106.74. Zimmer Biomet Holdings, Inc. has a 52-week low of $94.00 and a 52-week high of $123.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.95 and a beta of 0.84.

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 (EPS) for the quarter, topping 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 quarter in the prior year, the company earned $2.20 EPS. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed 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 is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.02%. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.57%.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,443 shares of the 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 sale, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.95% of the company's stock.

About Zimmer Biomet

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.