Geode Capital Management LLC Sells 2,323 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Geode Capital Management LLC reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 0.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,877,062 shares of the medical equipment provider's stock after selling 2,323 shares during the quarter. Geode Capital Management LLC owned about 2.45% of Zimmer Biomet worth $513,809,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Diametric Capital LP bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $381,000. National Bank of Canada FI boosted its holdings in shares of Zimmer Biomet by 27.5% in the fourth quarter. National Bank of Canada FI now owns 263,462 shares of the medical equipment provider's stock valued at $27,830,000 after buying an additional 56,797 shares during the period. Franklin Resources Inc. increased its holdings in 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 purchasing an additional 2,796,372 shares in the last quarter. Summit Financial LLC acquired a new stake in Zimmer Biomet in the 4th quarter valued at approximately $204,000. Finally, Alliancebernstein L.P. lifted its position in shares of Zimmer Biomet by 7.5% in the fourth quarter. Alliancebernstein L.P. now owns 326,802 shares of the medical equipment provider's stock worth $34,520,000 after purchasing an additional 22,784 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on ZBH shares. Raymond James dropped their target price on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Truist Financial reissued a "hold" rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Stifel Nicolaus increased their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Barclays reduced their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating for the company in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $124.15.

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Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the firm'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 completion of the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by company insiders.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $0.60 during midday trading on Wednesday, hitting $103.39. 5,689,896 shares of the company traded hands, compared to its average volume of 1,615,393. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The firm's fifty day moving average price is $106.54 and its 200-day moving average price is $107.10. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $128.55.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly 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 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 earnings per share. As a group, sell-side analysts forecast 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 paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Monday, March 31st. Zimmer Biomet's payout ratio is currently 21.57%.

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.