Primecap Management Co. CA Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Primecap Management Co. CA reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,797,150 shares of the medical equipment provider's stock after selling 174,230 shares during the quarter. Primecap Management Co. CA owned about 2.41% of Zimmer Biomet worth $506,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CKW Financial Group boosted its stake in Zimmer Biomet by 11.7% in the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider's stock valued at $101,000 after buying an additional 100 shares in the last quarter. FWG Holdings LLC boosted its stake in shares of Zimmer Biomet by 2.9% in the 3rd quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider's stock valued at $372,000 after purchasing an additional 101 shares in the last quarter. Romano Brothers AND Company grew its holdings in shares of Zimmer Biomet by 1.1% during the 4th quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider's stock valued at $1,000,000 after purchasing an additional 102 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Zimmer Biomet by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider's stock valued at $485,000 after purchasing an additional 102 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Zimmer Biomet by 0.4% in the fourth quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider's stock valued at $2,834,000 after buying an additional 108 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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Zimmer Biomet Stock Down 0.9 %

Shares of NYSE ZBH traded down $0.99 during trading on Friday, hitting $110.79. 2,942,594 shares of the company traded hands, compared to its average volume of 1,496,555. 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 business's fifty day moving average is $106.62 and its 200 day moving average is $106.96. The firm has a market capitalization of $22.05 billion, a price-to-earnings ratio of 24.90, a P/E/G 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 $133.90.

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 return on equity of 12.99% and a net margin of 11.77%. During the same period last year, the company earned $2.20 EPS. Equities research analysts predict 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. Stockholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's dividend payout ratio is currently 21.57%.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of research reports. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Royal Bank of Canada cut their price target on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Truist Financial reiterated a "hold" rating and set a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price target for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $124.15.

Insider Transactions at Zimmer Biomet

In related 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 transaction of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.95% of the stock is currently owned by insiders.

Zimmer Biomet 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.