Wells Fargo & Company MN Sells 69,361 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wells Fargo & Company MN cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 196,189 shares of the medical equipment provider's stock after selling 69,361 shares during the quarter. Wells Fargo & Company MN owned about 0.10% of Zimmer Biomet worth $20,723,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ZBH. Franklin Resources Inc. boosted its stake in Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after buying an additional 2,796,372 shares during the period. Norges Bank bought a new position in shares of Zimmer Biomet in the fourth quarter worth approximately $216,223,000. Sound Shore Management Inc. CT purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $81,447,000. Equity Investment Corp raised its position in shares of Zimmer Biomet by 57.2% during the 4th quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider's stock valued at $107,855,000 after buying an additional 371,653 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock valued at $417,814,000 after acquiring an additional 218,688 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

ZBH has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a research note on Monday. Truist Financial reaffirmed a "hold" rating and set a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JMP Securities restated a "market outperform" rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Royal Bank of Canada reduced their price target 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 equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $124.15.

Zimmer Biomet Stock Up 1.0 %

ZBH traded up $0.96 during trading on Friday, reaching $97.90. The stock had a trading volume of 4,367,870 shares, compared to its average volume of 1,650,696. The stock's 50 day moving average is $105.95 and its two-hundred day moving average is $106.78. The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.95 and a beta of 0.84. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a one year low of $96.58 and a one year high of $123.96.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its 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 net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the firm earned $2.20 earnings per share. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, March 31st. Zimmer Biomet's payout ratio is 21.57%.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction that occurred 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 directly owns 8,768 shares of the company's stock, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.95% of the company's stock.

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.