Sit Investment Associates Inc. Decreases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sit Investment Associates Inc. decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 42.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,432 shares of the medical equipment provider's stock after selling 34,935 shares during the quarter. Sit Investment Associates Inc.'s holdings in Zimmer Biomet were worth $5,010,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after purchasing an additional 2,796,372 shares in the last quarter. Norges Bank purchased a new position in shares of Zimmer Biomet in the fourth quarter worth $216,223,000. Sound Shore Management Inc. CT bought a new position in shares of Zimmer Biomet during the fourth quarter worth $81,447,000. Equity Investment Corp increased its holdings in Zimmer Biomet by 57.2% in 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 acquiring an additional 371,653 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in 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 worth $417,814,000 after purchasing an additional 218,688 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZBH. Truist Financial reaffirmed a "hold" rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Raymond James decreased their price objective on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Royal Bank of Canada cut their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, February 7th. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of "Hold" and a consensus price target of $124.15.

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Zimmer Biomet Trading Down 1.2 %

ZBH stock traded down $1.26 during midday trading on Friday, reaching $101.00. The company's stock had a trading volume of 587,491 shares, compared to its average volume of 1,620,449. The firm has a market capitalization of $20.11 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.95 and a beta of 0.84. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $128.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The stock has a fifty day simple moving average of $106.42 and a two-hundred day simple moving average of $107.07.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating 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 quarter last year, the business posted $2.20 earnings per share. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 0.95%. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.57%.

Insiders Place Their Bets

In other Zimmer Biomet 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 transaction of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.95% of the stock is currently owned by company insiders.

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.