Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Posted by Defense World Staff on Apr 22nd, 2023

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 32.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,192 shares of the medical equipment provider’s stock after selling 15,128 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zimmer Biomet were worth $4,104,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ZBH. Fairfield Bush & CO. acquired a new stake in shares of Zimmer Biomet during the first quarter worth $111,000. United Bank boosted its holdings in Zimmer Biomet by 4.1% in the first quarter. United Bank now owns 11,072 shares of the medical equipment provider’s stock valued at $1,416,000 after acquiring an additional 437 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Zimmer Biomet by 153.9% in the first quarter. Panagora Asset Management Inc. now owns 9,803 shares of the medical equipment provider’s stock valued at $1,254,000 after acquiring an additional 5,942 shares during the last quarter. Aviva PLC boosted its holdings in Zimmer Biomet by 0.4% in the first quarter. Aviva PLC now owns 30,636 shares of the medical equipment provider’s stock valued at $3,918,000 after acquiring an additional 137 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Zimmer Biomet by 11.2% in the first quarter. Allianz Asset Management GmbH now owns 41,816 shares of the medical equipment provider’s stock valued at $5,348,000 after acquiring an additional 4,224 shares during the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.

Zimmer Biomet Stock Down 0.3 %

NYSE:ZBH opened at $137.92 on Friday. The company has a market capitalization of $28.82 billion, a price-to-earnings ratio of 125.38, a price-to-earnings-growth ratio of 3.17 and a beta of 1.00. Zimmer Biomet Holdings, Inc. has a one year low of $100.39 and a one year high of $140.29. The stock has a 50-day simple moving average of $126.96 and a 200 day simple moving average of $121.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 1.88.

Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.05. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $1.95 earnings per share. Zimmer Biomet’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.04 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Wednesday, March 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.70%. Zimmer Biomet’s payout ratio is currently 87.27%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Loop Capital lifted their target price on Zimmer Biomet from $125.00 to $140.00 in a report on Monday, February 6th. Robert W. Baird raised their price objective on Zimmer Biomet from $133.00 to $145.00 in a research report on Monday, February 6th. Oppenheimer raised their price objective on Zimmer Biomet from $120.00 to $142.00 and gave the company an “outperform” rating in a research report on Monday, February 6th. Piper Sandler raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $135.00 to $145.00 in a research report on Thursday, March 9th. Finally, Raymond James raised Zimmer Biomet from a “market perform” rating to an “outperform” rating and set a $144.00 target price on the stock in a research report on Thursday, January 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $134.19.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 23,045 shares of Zimmer Biomet stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $124.50, for a total value of $2,869,102.50. Following the completion of the transaction, the vice president now directly owns 43,671 shares in the company, valued at $5,437,039.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.95% of the stock is currently owned by insiders.

About Zimmer Biomet

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.