Nuveen Asset Management LLC Boosts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Nuveen Asset Management LLC grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 191.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,389,405 shares of the medical equipment provider's stock after acquiring an additional 913,310 shares during the period. Nuveen Asset Management LLC owned 0.70% of Zimmer Biomet worth $146,763,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Occudo Quantitative Strategies LP bought a new position in shares of Zimmer Biomet in the 4th quarter worth about $648,000. OMERS ADMINISTRATION Corp increased its position in Zimmer Biomet by 19.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 8,684 shares of the medical equipment provider's stock valued at $917,000 after buying an additional 1,443 shares in the last quarter. Meridiem Capital Partners LP bought a new stake in Zimmer Biomet in the 4th quarter valued at about $11,506,000. Moore Capital Management LP bought a new stake in Zimmer Biomet during the 4th quarter worth approximately $4,977,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Zimmer Biomet during the 4th quarter worth approximately $2,007,000. 88.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ZBH has been the subject of several recent analyst reports. Morgan Stanley reduced their target price 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. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Truist Financial set a $101.00 target price on Zimmer Biomet in a research note on Tuesday, May 6th. Raymond James reduced their price objective on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.45.

Zimmer Biomet Price Performance

ZBH stock traded down $1.15 during mid-day trading on Monday, hitting $95.80. The company had a trading volume of 2,133,961 shares, compared to its average volume of 1,756,116. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 1.95 and a beta of 0.78. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.92 and a 12-month high of $120.13. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $103.41 and a 200 day moving average price of $105.84.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 earnings per share. On average, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.24 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.00%. Zimmer Biomet's dividend payout ratio is presently 21.24%.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares of the company's stock, valued at $915,379.20. This trade represents a 14.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.39% of the company's stock.

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.