Charles Schwab Investment Management Inc. Sells 29,850 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Charles Schwab Investment Management Inc. reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHFree Report) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,203,634 shares of the medical equipment provider’s stock after selling 29,850 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.58% of Zimmer Biomet worth $135,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Zimmer Biomet by 19.0% during the first quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock valued at $2,954,843,000 after buying an additional 3,695,510 shares during the last quarter. BlackRock Inc. grew its stake in shares of Zimmer Biomet by 5.2% during the second quarter. BlackRock Inc. now owns 22,098,606 shares of the medical equipment provider’s stock valued at $3,217,557,000 after buying an additional 1,094,431 shares during the last quarter. State Street Corp grew its stake in shares of Zimmer Biomet by 3.6% during the second quarter. State Street Corp now owns 9,056,896 shares of the medical equipment provider’s stock valued at $1,320,827,000 after buying an additional 318,082 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Zimmer Biomet by 2.3% in the second quarter. Geode Capital Management LLC now owns 4,413,445 shares of the medical equipment provider’s stock worth $640,904,000 after purchasing an additional 98,278 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Zimmer Biomet by 80.5% in the fourth quarter. Morgan Stanley now owns 3,102,429 shares of the medical equipment provider’s stock worth $395,560,000 after purchasing an additional 1,384,068 shares during the last quarter. 87.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday. Roth Mkm assumed coverage on Zimmer Biomet in a research note on Friday, October 20th. They issued a “neutral” rating and a $120.00 target price on the stock. Truist Financial raised their target price on Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday. JMP Securities cut their target price on Zimmer Biomet from $160.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Monday, November 13th. Finally, Raymond James raised their target price on Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average price target of $138.11.

Check Out Our Latest Analysis on ZBH

Zimmer Biomet Price Performance

ZBH stock opened at $122.80 on Friday. The firm has a 50 day moving average price of $121.39 and a 200-day moving average price of $117.68. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $149.25. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.24 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.61.

Zimmer Biomet (NYSE:ZBHGet Free Report) last released its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the business earned $1.88 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.03 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, December 27th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. Zimmer Biomet’s payout ratio is 19.63%.

Zimmer Biomet Profile

(Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.

Further Reading

Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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