Arrowstreet Capital Limited Partnership Has $48.58 Million Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Arrowstreet Capital Limited Partnership lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 459,903 shares of the medical equipment provider’s stock after selling 109,685 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Zimmer Biomet were worth $48,580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stonebridge Financial Group LLC bought a new position in Zimmer Biomet in the 4th quarter valued at $25,000. Dunhill Financial LLC raised its holdings in shares of Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 218 shares during the last quarter. Kentucky Trust Co acquired a new position in Zimmer Biomet during the 4th quarter worth about $39,000. OFI Invest Asset Management bought a new stake in Zimmer Biomet during the 4th quarter worth about $40,000. Finally, SRS Capital Advisors Inc. increased its position in Zimmer Biomet by 146.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock valued at $51,000 after acquiring an additional 285 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus increased 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. Raymond James decreased their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada dropped their target price on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Truist Financial reiterated a “hold” rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $124.15.

Insider Buying and Selling

In related news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $112.32 on Wednesday. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $130.89. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $22.36 billion, a PE ratio of 25.24, a PEG ratio of 1.95 and a beta of 1.04. The stock’s fifty day simple moving average is $107.29 and its 200 day simple moving average is $107.14.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the previous year, the firm posted $2.20 EPS. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is 21.57%.

Zimmer Biomet Company Profile

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.