Prudential Financial Inc. Sells 100,542 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Prudential Financial Inc. reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 48.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,347 shares of the medical equipment provider's stock after selling 100,542 shares during the quarter. Prudential Financial Inc. owned about 0.05% of Zimmer Biomet worth $11,445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZBH. Stonebridge Financial Group LLC bought a new position in Zimmer Biomet in the 4th quarter worth $25,000. Dunhill Financial LLC grew its holdings in shares of Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 218 shares during the period. Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet in the 3rd quarter valued at approximately $35,000. Kentucky Trust Co purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $39,000. Finally, OFI Invest Asset Management purchased a new stake in Zimmer Biomet in the fourth quarter worth $40,000. Institutional investors own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

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

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Zimmer Biomet Price Performance

ZBH stock traded up $0.12 during mid-day trading on Wednesday, hitting $112.49. The company had a trading volume of 237,571 shares, compared to its average volume of 1,830,475. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 1.95 and a beta of 1.04. The company has a 50-day moving average price of $107.29 and a 200 day moving average price of $107.14. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $130.89.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating 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 quarter in the previous year, the firm posted $2.20 earnings per share. On average, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given 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 (DPR) is currently 21.57%.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company's stock.

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.