Allstate Corp Acquires New Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Allstate Corp bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,329 shares of the medical equipment provider’s stock, valued at approximately $669,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dunhill Financial LLC boosted its stake in shares of Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Zimmer Biomet during the fourth quarter worth $25,000. Kentucky Trust Co purchased a new stake in Zimmer Biomet during the fourth quarter worth $39,000. OFI Invest Asset Management acquired a new stake in Zimmer Biomet in the fourth quarter valued at $40,000. Finally, SRS Capital Advisors Inc. increased its position in shares of Zimmer Biomet by 146.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock valued at $51,000 after buying an additional 285 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ZBH. Truist Financial reissued a “hold” rating and issued a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Barclays dropped their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Stifel Nicolaus boosted their price target on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, 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 note on Friday, February 7th. Two research 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’s stock. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $113.33 on Tuesday. The business’s fifty day moving average price is $107.26 and its 200 day moving average price is $107.10. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $131.61. 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 stock has a market capitalization of $22.56 billion, a P/E ratio of 25.47, a PEG ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $2.20 earnings per share. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis 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 presently 21.57%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.95% of the company’s stock.

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.