Norges Bank Takes $216.22 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Norges Bank acquired a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,046,987 shares of the medical equipment provider's stock, valued at approximately $216,223,000. Norges Bank owned 1.03% of Zimmer Biomet at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Loomis Sayles & Co. L P purchased a new stake in Zimmer Biomet during the 4th quarter valued at about $64,000. NEOS Investment Management LLC boosted its position in Zimmer Biomet by 29.6% in the fourth quarter. NEOS Investment Management LLC now owns 10,891 shares of the medical equipment provider's stock valued at $1,150,000 after buying an additional 2,485 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Zimmer Biomet by 21.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 23,783 shares of the medical equipment provider's stock worth $2,512,000 after buying an additional 4,213 shares during the period. Elo Mutual Pension Insurance Co raised its position in Zimmer Biomet by 20.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 22,020 shares of the medical equipment provider's stock worth $2,326,000 after buying an additional 3,746 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Zimmer Biomet by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 318,820 shares of the medical equipment provider's stock valued at $33,307,000 after acquiring an additional 11,777 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

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Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $0.72 during mid-day trading on Thursday, reaching $113.22. 1,440,019 shares of the stock traded hands, compared to its average volume of 1,836,985. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $107.35 and a 200 day moving average of $107.18. The stock has a market capitalization of $22.54 billion, a PE ratio of 25.44, 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 announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share 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 period last year, the company posted $2.20 EPS. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

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 paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 0.85%. Zimmer Biomet's dividend payout ratio is presently 21.57%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Raymond James reduced their price objective on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. JMP Securities restated a "market outperform" rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Royal Bank of Canada reduced their price target on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of "Hold" and a consensus price target of $124.15.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the company's 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 completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

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.