Brown Brothers Harriman & Co. Trims Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Brown Brothers Harriman & Co. lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 21.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,418 shares of the medical equipment provider’s stock after selling 388 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Zimmer Biomet were worth $150,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. DnB Asset Management AS lifted its stake in shares of Zimmer Biomet by 2.7% during the 4th quarter. DnB Asset Management AS now owns 36,997 shares of the medical equipment provider’s stock worth $3,908,000 after acquiring an additional 957 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Zimmer Biomet by 13.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 120,615 shares of the medical equipment provider’s stock worth $12,741,000 after purchasing an additional 14,609 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Zimmer Biomet by 0.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 60,434 shares of the medical equipment provider’s stock valued at $6,384,000 after purchasing an additional 468 shares during the period. Providence Capital Advisors LLC grew its holdings in shares of Zimmer Biomet by 5.3% in the fourth quarter. Providence Capital Advisors LLC now owns 55,600 shares of the medical equipment provider’s stock worth $5,873,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Norges Bank purchased a new position in Zimmer Biomet in the 4th quarter worth about $216,223,000. Institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ZBH. Truist Financial restated a “hold” rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Stifel Nicolaus raised their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Raymond James cut their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Royal Bank of Canada lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $124.15.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 of the company’s stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.95% of the stock is currently owned by company insiders.

Zimmer Biomet Trading Down 0.8 %

Zimmer Biomet stock opened at $112.32 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The stock has a market cap of $22.36 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The stock has a 50-day moving average of $107.29 and a two-hundred day moving average of $107.14. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $130.89.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $2.20 earnings per share. On average, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

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

Zimmer Biomet 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.