Allspring Global Investments Holdings LLC Lowers Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 28.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,815,248 shares of the medical equipment provider's stock after selling 737,158 shares during the period. Allspring Global Investments Holdings LLC owned 0.92% of Zimmer Biomet worth $203,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Zimmer Biomet by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider's stock valued at $485,000 after acquiring an additional 102 shares in the last quarter. M&T Bank Corp raised its holdings in Zimmer Biomet by 0.4% in the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider's stock worth $2,834,000 after purchasing an additional 108 shares in the last quarter. MGO One Seven LLC raised its position in shares of Zimmer Biomet by 5.1% in the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock worth $238,000 after acquiring an additional 110 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Zimmer Biomet by 0.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock worth $2,903,000 after acquiring an additional 118 shares in the last quarter. Finally, FWG Holdings LLC increased its stake in shares of Zimmer Biomet by 3.5% during the fourth quarter. FWG Holdings LLC now owns 3,715 shares of the medical equipment provider's stock valued at $402,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

ZBH has been the subject of a number of analyst reports. Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a research note on Tuesday, May 6th. Morgan Stanley cut their price objective on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group cut their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Raymond James Financial cut their price objective on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group dropped their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $111.53.

Insider Activity

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider now owns 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Down 0.3%

Shares of ZBH traded down $0.28 during mid-day trading on Friday, hitting $91.46. 5,340,932 shares of the company traded hands, compared to its average volume of 1,817,607. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $116.71. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $18.10 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72. The business has a 50 day moving average of $94.65 and a 200 day moving average of $102.26.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 EPS. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's payout ratio is currently 21.24%.

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.