Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 167.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,251 shares of the medical equipment provider's stock after buying an additional 10,166 shares during the quarter. DAVENPORT & Co LLC's holdings in Zimmer Biomet were worth $1,977,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZBH. Vanguard Group Inc. lifted its holdings in shares of Zimmer Biomet by 19.0% in the first quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider's stock worth $2,954,843,000 after buying an additional 3,695,510 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Zimmer Biomet by 92,041.0% in the fourth 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 last quarter. Norges Bank bought a new position in shares of Zimmer Biomet in the fourth quarter worth approximately $231,471,000. Morgan Stanley increased its position in shares of Zimmer Biomet by 80.5% in the fourth 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 last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Zimmer Biomet by 657.0% in the fourth 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 last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Down 0.2 %

ZBH stock traded down $0.23 on Friday, reaching $127.33. The company's stock had a trading volume of 789,184 shares, compared to its average volume of 1,159,415. The business has a fifty day simple moving average of $126.50 and a two-hundred day simple moving average of $118.54. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $149.25. The firm has a market cap of $26.16 billion, a PE ratio of 26.04, a PEG ratio of 2.34 and a beta of 1.01. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm posted $1.88 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet's dividend payout ratio is currently 19.63%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ZBH shares. JPMorgan Chase & Co. upped their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Citigroup upped their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday. Evercore ISI upped their price objective on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an "in-line" rating in a research report on Thursday. Barclays upped their price objective on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an "underweight" rating in a research report on Monday, February 12th. Finally, Truist Financial increased their price target on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a "hold" rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $139.39.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet 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 transaction of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares of the company's stock, valued at $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.95% of the company's stock.

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.