Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 19.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 459,903 shares of the medical equipment provider's stock after selling 109,685 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.23% of Zimmer Biomet worth $48,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ZBH. Intech Investment Management LLC lifted its holdings in Zimmer Biomet by 21.3% in the third quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider's stock valued at $257,000 after acquiring an additional 417 shares during the period. FMR LLC lifted its stake in shares of Zimmer Biomet by 27.6% in the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider's stock valued at $80,999,000 after purchasing an additional 162,384 shares during the period. Townsquare Capital LLC acquired a new stake in Zimmer Biomet during the third quarter valued at $341,000. Public Sector Pension Investment Board increased its holdings in Zimmer Biomet by 7.5% in the third quarter. Public Sector Pension Investment Board now owns 8,620 shares of the medical equipment provider's stock valued at $931,000 after buying an additional 600 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Zimmer Biomet in the third quarter worth about $4,476,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Trading Up 0.2 %

Zimmer Biomet stock traded up $0.22 during trading on Thursday, reaching $112.72. 2,920,590 shares of the company were exchanged, compared to its average volume of 1,576,374. The stock's 50 day simple moving average is $107.35 and its two-hundred day simple moving average is $107.18. The company has a market capitalization of $22.44 billion, a P/E ratio of 25.33, a PEG ratio of 1.95 and a beta of 1.04. 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 Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $130.89.

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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 for the quarter, beating 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 previous year, the business posted $2.20 EPS. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared 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. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet's dividend payout ratio is currently 21.57%.

Analyst Ratings Changes

ZBH has been the topic of a number of analyst reports. Truist Financial restated 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. JPMorgan Chase & Co. upgraded Zimmer Biomet from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Barclays decreased their target price 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 shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $124.15.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of the 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 transaction, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company's stock.

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.