Zurcher Kantonalbank Zurich Cantonalbank Purchases 165,937 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 293.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,518 shares of the medical equipment provider’s stock after buying an additional 165,937 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zimmer Biomet were worth $27,080,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ZBH. Vanguard Group Inc. lifted its position in shares of Zimmer Biomet by 19.0% during the 1st 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. Moneta Group Investment Advisors LLC boosted its stake in Zimmer Biomet by 92,041.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,841,898 shares of the medical equipment provider’s stock worth $234,842,000 after purchasing an additional 1,839,899 shares during the period. Norges Bank bought a new position in Zimmer Biomet in the 4th quarter worth about $231,471,000. Morgan Stanley boosted its stake in Zimmer Biomet by 80.5% in the 4th 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 period. Finally, Victory Capital Management Inc. boosted its stake in Zimmer Biomet by 657.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,393,963 shares of the medical equipment provider’s stock worth $177,730,000 after purchasing an additional 1,209,827 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several analyst reports. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Citigroup raised their price target on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a report on Friday, February 23rd. Finally, Truist Financial raised their price target on Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $139.39.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares in the company, valued at $5,677,929.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.95% of the stock is owned by company insiders.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $121.30 on Thursday. The firm has a market cap of $24.92 billion, a P/E ratio of 24.81, a P/E/G ratio of 2.24 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $149.25. The business’s 50 day moving average price is $126.47 and its 200-day moving average price is $119.10. 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 (NYSE:ZBH) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s payout ratio is 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.