2,193,062 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Acquired by Norges Bank

Norges Bank purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,193,062 shares of the medical equipment provider’s stock, valued at approximately $266,896,000. Norges Bank owned approximately 1.05% of Zimmer Biomet as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ZBH. Naples Money Management LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $35,000. Activest Wealth Management increased its position in shares of Zimmer Biomet by 410.4% in the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Zimmer Biomet by 48.4% in the 4th quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after acquiring an additional 153 shares in the last quarter. Quent Capital LLC boosted its stake in Zimmer Biomet by 21.6% in the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 92 shares during the period. Finally, Ancora Advisors LLC raised its stake in Zimmer Biomet by 63.3% during the 3rd quarter. Ancora Advisors LLC now owns 570 shares of the medical equipment provider’s stock valued at $64,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $118.97 on Wednesday. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $147.50. The stock has a market cap of $24.48 billion, a P/E ratio of 25.75, a PEG ratio of 2.15 and a beta of 1.03. The company has a fifty day moving average price of $123.97 and a 200 day moving average price of $121.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. Zimmer Biomet’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Insider Buying and Selling

In other news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on ZBH shares. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Friday, May 17th. Truist Financial dropped their price objective on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Barclays boosted their price target on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, February 12th. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Finally, StockNews.com lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and a consensus target price of $134.40.

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.