National Pension Service lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 302,438 shares of the medical equipment provider’s stock after selling 2,006 shares during the period. National Pension Service’s holdings in Zimmer Biomet were worth $32,397,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in ZBH. Guardian Wealth Advisors LLC acquired a new position in shares of Zimmer Biomet during the third quarter valued at about $28,000. Ronald Blue Trust Inc. acquired a new position in shares of Zimmer Biomet during the second quarter valued at about $37,000. Western Pacific Wealth Management LP acquired a new position in shares of Zimmer Biomet during the third quarter valued at about $44,000. Tsfg LLC increased its stake in Zimmer Biomet by 295.5% in the third quarter. Tsfg LLC now owns 435 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 325 shares during the period. Finally, Allworth Financial LP increased its stake in Zimmer Biomet by 46.9% in the third quarter. Allworth Financial LP now owns 457 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 87.21% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on ZBH. JMP Securities reissued a “market outperform” rating and issued a $145.00 target price on shares of Zimmer Biomet in a research note on Tuesday, February 7th. Oppenheimer upped their target price on shares of Zimmer Biomet from $120.00 to $142.00 and gave the company an “outperform” rating in a research note on Monday, February 6th. Loop Capital upped their target price on shares of Zimmer Biomet from $125.00 to $140.00 in a research note on Monday, February 6th. Piper Sandler raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $135.00 to $145.00 in a research note on Thursday, March 9th. Finally, Morgan Stanley upped their price objective on shares of Zimmer Biomet from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, February 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $133.56.
Zimmer Biomet Price Performance
Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.83 by $0.05. Zimmer Biomet had a net margin of 3.33% and a return on equity of 11.97%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm earned $1.95 earnings per share. Zimmer Biomet’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.04 earnings per share for the current fiscal year.
Zimmer Biomet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Wednesday, March 29th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, March 28th. This represents a $0.96 annualized dividend and a yield of 0.77%. Zimmer Biomet’s dividend payout ratio is currently 87.27%.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.
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