Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 62.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,578 shares of the medical equipment provider's stock after selling 156,780 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Zimmer Biomet were worth $9,885,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ZBH. Equity Investment Corp acquired a new position in shares of Zimmer Biomet in the 3rd quarter valued at approximately $70,104,000. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider's stock valued at $189,161,000 after purchasing an additional 577,320 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth $41,588,000. Van ECK Associates Corp lifted its position in shares of Zimmer Biomet by 5.9% during 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 buying an additional 218,688 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Zimmer Biomet during the fourth quarter worth about $21,234,000. Institutional investors own 88.89% of the company's stock.

Analysts Set New Price Targets

ZBH has been the topic of several research reports. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Truist Financial reiterated a "hold" rating and issued a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. JMP Securities restated a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Stifel Nicolaus raised their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Barclays lowered their target price on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating for the company in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and a consensus target price of $124.15.

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Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the business'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. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.95% of the company's stock.

Zimmer Biomet Stock Up 1.7 %

Shares of NYSE:ZBH traded up $1.88 during mid-day trading on Monday, hitting $111.85. 2,435,661 shares of the company traded hands, compared to its average volume of 1,484,314. The stock has a market cap of $22.26 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.95 and a beta of 1.04. The stock has a 50-day moving average price of $105.83 and a two-hundred day moving average price of $106.92. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $133.90. 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 (NYSE:ZBH - Get Free Report) last posted 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 last year, the business posted $2.20 earnings per share. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.57%.

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.