Korea Investment CORP Lowers Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Korea Investment CORP cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 27.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,689 shares of the medical equipment provider's stock after selling 36,400 shares during the quarter. Korea Investment CORP's holdings in Zimmer Biomet were worth $10,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ZBH. Roman Butler Fullerton & Co. bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $473,000. Geode Capital Management LLC boosted its stake in 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 in the last quarter. M&T Bank Corp grew its holdings in 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 worth $2,884,000 after purchasing an additional 8,709 shares during the period. KLCM Advisors Inc. purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $7,825,000. Finally, Peddock Capital Advisors LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $654,000. 88.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

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Analysts Set New Price Targets

A number of research firms recently weighed in on ZBH. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Royal Bank of Canada lowered their price target on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Barclays cut their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Finally, Raymond James dropped their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $124.15.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $1.70 on Thursday, hitting $114.20. The stock had a trading volume of 1,273,081 shares, compared to its average volume of 1,569,572. The business's 50-day simple moving average is $107.35 and its two-hundred day simple moving average is $107.18. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $130.89. 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, topping analysts' consensus estimates 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 prior year, the business earned $2.20 EPS. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.84%. Zimmer Biomet's dividend payout ratio (DPR) is 21.57%.

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.