Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stake Reduced by Nordea Investment Management AB

Posted by Defense World Staff on Jul 6th, 2023

Nordea Investment Management AB lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 32.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 32,335 shares of the medical equipment provider’s stock after selling 15,326 shares during the period. Nordea Investment Management AB’s holdings in Zimmer Biomet were worth $4,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ZBH. Bradley Foster & Sargent Inc. CT boosted its position in Zimmer Biomet by 1.3% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 6,452 shares of the medical equipment provider’s stock worth $823,000 after acquiring an additional 85 shares during the period. HB Wealth Management LLC grew its stake in shares of Zimmer Biomet by 4.0% in the fourth quarter. HB Wealth Management LLC now owns 2,371 shares of the medical equipment provider’s stock worth $302,000 after acquiring an additional 92 shares during the last quarter. 1ST Source Bank increased its position in Zimmer Biomet by 0.7% during the fourth quarter. 1ST Source Bank now owns 13,149 shares of the medical equipment provider’s stock worth $1,676,000 after acquiring an additional 95 shares during the period. Securian Asset Management Inc. raised its stake in Zimmer Biomet by 0.6% during the 4th quarter. Securian Asset Management Inc. now owns 17,176 shares of the medical equipment provider’s stock valued at $2,190,000 after purchasing an additional 100 shares during the last quarter. Finally, Ellevest Inc. boosted its holdings in Zimmer Biomet by 9.1% in the 4th quarter. Ellevest Inc. now owns 1,239 shares of the medical equipment provider’s stock valued at $158,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZBH. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. JMP Securities raised their price objective on Zimmer Biomet from $145.00 to $160.00 in a research report on Wednesday, May 3rd. SpectralCast restated a “maintains” rating on shares of Zimmer Biomet in a research report on Wednesday, May 3rd. FIG Partners raised Zimmer Biomet to a “neutral” rating in a research report on Wednesday, May 3rd. Finally, Raymond James raised their price objective on shares of Zimmer Biomet from $144.00 to $160.00 in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $143.67.

Zimmer Biomet Stock Down 0.1 %

Shares of NYSE:ZBH opened at $142.36 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.89 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12 month low of $100.39 and a 12 month high of $149.25. The firm has a market cap of $29.69 billion, a P/E ratio of 66.52, a P/E/G ratio of 2.60 and a beta of 1.04. The company’s 50-day moving average price is $137.13 and its two-hundred day moving average price is $130.64.

Zimmer Biomet (NYSE:ZBH – Free Report) last posted its earnings results on Tuesday, May 2nd. The medical equipment provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.25. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Zimmer Biomet had a return on equity of 12.43% and a net margin of 6.33%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 earnings per share. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.45 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, June 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, June 23rd. Zimmer Biomet’s payout ratio is 44.86%.

Zimmer Biomet Profile

(Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.