Covea Finance Has $3.28 Million Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Covea Finance trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 83.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,000 shares of the medical equipment provider's stock after selling 148,410 shares during the period. Covea Finance's holdings in Zimmer Biomet were worth $3,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dodge & Cox boosted its holdings in shares of Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after buying an additional 2,044,645 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Zimmer Biomet by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider's stock worth $1,559,147,000 after acquiring an additional 176,337 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after acquiring an additional 2,796,372 shares during the period. Northern Trust Corp grew its position in shares of Zimmer Biomet by 7.6% in the fourth quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider's stock valued at $250,367,000 after purchasing an additional 167,435 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Zimmer Biomet in the fourth quarter worth about $216,223,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Raymond James Financial lowered their target price on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird lowered their price objective on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company dropped their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a report on Tuesday, May 6th. Finally, Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of "Hold" and a consensus price target of $111.53.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider now directly owns 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded up $0.84 during mid-day trading on Tuesday, hitting $92.34. 1,812,404 shares of the stock were exchanged, compared to its average volume of 1,795,604. The company has a market cap of $18.27 billion, a P/E ratio of 20.43, a PEG ratio of 2.11 and a beta of 0.72. The stock's fifty day simple moving average is $95.08 and its two-hundred day simple moving average is $102.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data 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 during 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 business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's dividend 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.