Corebridge Financial Inc. Decreases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Corebridge Financial Inc. lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 47,657 shares of the medical equipment provider’s stock after selling 3,440 shares during the quarter. Corebridge Financial Inc.’s holdings in Zimmer Biomet were worth $5,034,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ZBH. Crowley Wealth Management Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter worth about $723,000. LPL Financial LLC lifted its position in Zimmer Biomet by 11.3% during the 4th quarter. LPL Financial LLC now owns 99,721 shares of the medical equipment provider’s stock worth $10,534,000 after acquiring an additional 10,122 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $11,773,000. Sei Investments Co. grew its position in Zimmer Biomet by 2.6% in the fourth quarter. Sei Investments Co. now owns 715,372 shares of the medical equipment provider’s stock valued at $75,565,000 after acquiring an additional 18,433 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its stake in shares of Zimmer Biomet by 42.9% during the fourth quarter. Mizuho Securities USA LLC now owns 18,868 shares of the medical equipment provider’s stock valued at $1,993,000 after purchasing an additional 5,662 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Transactions at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet 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 sale, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZBH. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their target price for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Barclays cut their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th. Truist Financial restated a “hold” rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Trading Up 0.1 %

Shares of NYSE ZBH opened at $112.21 on Friday. The company has a market cap of $22.34 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The stock’s 50 day simple moving average is $107.18 and its 200 day simple moving average is $107.02. 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 Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $131.61.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the business earned $2.20 earnings per share. Equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

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