Pictet Asset Management Holding SA Raises Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Pictet Asset Management Holding SA increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,615 shares of the medical equipment provider's stock after acquiring an additional 14,609 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Zimmer Biomet worth $12,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZBH. Norges Bank acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth $216,223,000. Sound Shore Management Inc. CT purchased a new stake in Zimmer Biomet in the fourth quarter valued at about $81,447,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Zimmer Biomet by 49.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider's stock worth $189,161,000 after acquiring an additional 577,320 shares in the last quarter. Equity Investment Corp grew its stake in shares of Zimmer Biomet by 57.2% during the fourth quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider's stock worth $107,855,000 after acquiring an additional 371,653 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Zimmer Biomet by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock valued at $417,814,000 after purchasing an additional 218,688 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

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Zimmer Biomet Price Performance

Shares of ZBH stock traded up $0.22 during trading hours on Thursday, hitting $112.72. 2,920,590 shares of the company's stock were exchanged, compared to its average volume of 1,576,374. The firm has a 50 day moving average of $107.35 and a two-hundred day moving average of $107.18. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $97.69 and a fifty-two week high of $130.89. The firm has a market cap of $22.44 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.95 and a beta of 1.04. 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 (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) 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 prior year, the business earned $2.20 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.57%.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the firm's 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 transaction, the senior vice president now directly owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

ZBH has been the topic of a number of recent analyst reports. Truist Financial restated a "hold" rating and set a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JMP Securities restated a "market outperform" rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Stifel Nicolaus boosted their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Raymond James decreased their target price on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a 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 assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $124.15.

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.