Investors Purchase High Volume of Zimmer Biomet Put Options (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 3,521 put options on the stock. This is an increase of 276% compared to the average volume of 937 put options.

Institutional Investors Weigh In On Zimmer Biomet

Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Zimmer Biomet during the fourth quarter valued at $266,896,000. Price T Rowe Associates Inc. MD lifted its position in Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after purchasing an additional 1,215,935 shares during the period. Boston Partners lifted its position in Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after purchasing an additional 691,191 shares during the period. Van ECK Associates Corp lifted its position in Zimmer Biomet by 23.7% during the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after purchasing an additional 543,344 shares during the period. Finally, Primecap Management Co. CA raised its position in shares of Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after acquiring an additional 484,151 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZBH has been the topic of a number of recent research reports. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $115.00 in a report on Monday, July 1st. Morgan Stanley cut their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Truist Financial cut their price target on Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Citigroup cut their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Oppenheimer increased their price target on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and an average price target of $129.81.

Zimmer Biomet Stock Down 0.5 %

ZBH stock traded down $0.56 during trading on Wednesday, hitting $109.01. 871,096 shares of the company’s stock traded hands, compared to its average volume of 1,485,707. The business has a fifty day simple moving average of $109.42 and a two-hundred day simple moving average of $118.88. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $133.90. The firm has a market capitalization of $22.43 billion, a P/E ratio of 23.36, a PEG ratio of 1.99 and a beta of 1.01.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

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.