Legal & General Group Plc Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Legal & General Group Plc lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,618,338 shares of the medical equipment provider's stock after selling 360,992 shares during the period. Legal & General Group Plc owned approximately 0.81% of Zimmer Biomet worth $170,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. raised its stake in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after acquiring an additional 2,796,372 shares during the last quarter. Norges Bank purchased a new position in shares of Zimmer Biomet in the fourth quarter worth about $216,223,000. Sound Shore Management Inc. CT acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth about $81,447,000. FMR LLC boosted its position in Zimmer Biomet by 91.6% in the fourth quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock valued at $151,897,000 after buying an additional 687,675 shares during the last quarter. Finally, Equity Investment Corp increased its holdings in Zimmer Biomet by 57.2% in the 4th quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider's stock worth $107,855,000 after buying an additional 371,653 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented 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 research report on Friday, February 7th. Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Truist Financial reaffirmed a "hold" rating and set a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and raised their price target for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Zimmer Biomet has a consensus rating of "Hold" and an average target price of $124.15.

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Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were 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 owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.95% of the company's stock.

Zimmer Biomet Trading Down 3.3 %

Shares of ZBH stock traded down $3.35 on Tuesday, hitting $98.62. The stock had a trading volume of 813,314 shares, compared to its average volume of 1,630,615. The company's 50 day moving average price is $106.19 and its 200-day moving average price is $106.99. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $127.32. The firm has a market capitalization of $19.63 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping 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 company earned $2.20 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.97%. Zimmer Biomet's dividend 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.