abrdn plc Boosts Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

abrdn plc grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 54.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 420,593 shares of the medical equipment provider’s stock after buying an additional 147,606 shares during the quarter. abrdn plc owned 0.20% of Zimmer Biomet worth $51,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Naples Money Management LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $35,000. John G Ullman & Associates Inc. purchased a new stake in Zimmer Biomet in the fourth quarter worth approximately $3,975,000. Resonant Capital Advisors LLC boosted its holdings in Zimmer Biomet by 11.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,036 shares of the medical equipment provider’s stock worth $492,000 after purchasing an additional 426 shares during the last quarter. Calamos Advisors LLC boosted its holdings in Zimmer Biomet by 10.5% in the fourth quarter. Calamos Advisors LLC now owns 326,629 shares of the medical equipment provider’s stock worth $39,751,000 after purchasing an additional 30,908 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Zimmer Biomet by 33.4% in the fourth quarter. Xponance Inc. now owns 35,694 shares of the medical equipment provider’s stock worth $4,344,000 after purchasing an additional 8,945 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZBH. Citigroup raised their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Evercore ISI raised their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Canaccord Genuity Group restated a “hold” rating and issued a $130.00 target price on shares of Zimmer Biomet in a report on Friday, February 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. Finally, TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $139.39.

Insiders Place Their Bets

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Zimmer Biomet Stock Up 0.1 %

ZBH opened at $119.43 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $149.25. The firm’s fifty day moving average is $126.33 and its 200 day moving average is $119.29. The stock has a market cap of $24.54 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. Zimmer Biomet’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 EPS. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s payout ratio is currently 19.63%.

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.