Corebridge Financial Inc. Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Corebridge Financial Inc. decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,657 shares of the medical equipment provider's stock after selling 3,440 shares during the quarter. Corebridge Financial Inc.'s holdings in Zimmer Biomet were worth $5,034,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC raised its position in Zimmer Biomet by 21.3% in the 3rd quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider's stock worth $257,000 after purchasing an additional 417 shares during the period. FMR LLC lifted its holdings in Zimmer Biomet by 27.6% during the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider's stock worth $80,999,000 after buying an additional 162,384 shares during the period. Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet in the 3rd quarter valued at $35,000. Townsquare Capital LLC bought a new position in shares of Zimmer Biomet in the 3rd quarter worth $341,000. Finally, Glenmede Trust Co. NA lifted its stake in shares of Zimmer Biomet by 163.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 44,554 shares of the medical equipment provider's stock worth $4,810,000 after purchasing an additional 27,673 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Trading Up 0.2 %

Zimmer Biomet stock traded up $0.22 during trading on Thursday, reaching $112.72. 2,920,590 shares of the company were exchanged, compared to its average volume of 1,576,374. 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 stock's 50 day simple moving average is $107.38 and its two-hundred day simple moving average is $107.21. The company has a market capitalization of $22.44 billion, a P/E ratio of 25.33, a PEG 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 $130.89.

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

Zimmer Biomet Dividend Announcement

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

Analyst Upgrades and Downgrades

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. Stifel Nicolaus lifted their price objective 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. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and raised their target price for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Raymond James cut their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, JMP Securities reiterated a "market outperform" rating and set a $140.00 price objective on shares of Zimmer Biomet in a report 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. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $124.15.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet 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 sale, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

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.