Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,668 shares of the medical equipment provider's stock after selling 4,189 shares during the quarter. Truist Financial Corp's holdings in Zimmer Biomet were worth $2,078,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Roman Butler Fullerton & Co. acquired a new stake in Zimmer Biomet during the 4th quarter worth approximately $473,000. Geode Capital Management LLC increased its position in shares of Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider's stock worth $524,942,000 after acquiring an additional 125,852 shares during the period. M&T Bank Corp raised its stake in shares of Zimmer Biomet by 48.4% in the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider's stock valued at $2,884,000 after acquiring an additional 8,709 shares in the last quarter. KLCM Advisors Inc. purchased a new position in Zimmer Biomet in the fourth quarter valued at $7,825,000. Finally, Peddock Capital Advisors LLC acquired a new position in Zimmer Biomet during the 4th quarter worth $654,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ZBH shares. JPMorgan Chase & Co. upgraded Zimmer Biomet from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Raymond James decreased their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Truist Financial restated a "hold" rating and issued a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Finally, JMP Securities reiterated a "market outperform" rating and set a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Two 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. According to data from MarketBeat, Zimmer Biomet has a consensus rating of "Hold" and a consensus price target of $124.15.

Zimmer Biomet Stock Performance

Shares of ZBH stock traded up $0.27 during trading hours on Friday, hitting $104.32. The stock had a trading volume of 2,813,620 shares, compared to its average volume of 1,900,642. The stock's 50 day moving average is $105.72 and its 200 day moving average is $107.37. The firm has a market capitalization of $20.77 billion, a PE ratio of 23.44, a PEG ratio of 1.95 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $133.90. 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 issued its quarterly earnings data 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 company posted $2.20 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.92%. Zimmer Biomet's payout ratio is 21.57%.

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.