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

Allspring Global Investments Holdings LLC boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,760,021 shares of the medical equipment provider's stock after acquiring an additional 386,019 shares during the period. Zimmer Biomet accounts for about 0.6% of Allspring Global Investments Holdings LLC's investment portfolio, making the stock its 27th largest position. Allspring Global Investments Holdings LLC owned about 1.32% of Zimmer Biomet worth $335,895,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in 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 valued at $2,954,843,000 after buying an additional 3,695,510 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in 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 valued at $234,842,000 after buying an additional 1,839,899 shares during the period. Norges Bank purchased a new position in Zimmer Biomet in the fourth quarter valued at approximately $231,471,000. Morgan Stanley raised its stake in shares of Zimmer Biomet by 80.5% during the fourth quarter. Morgan Stanley now owns 3,102,429 shares of the medical equipment provider's stock valued at $395,560,000 after purchasing an additional 1,384,068 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Zimmer Biomet by 657.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,393,963 shares of the medical equipment provider's stock valued at $177,730,000 after purchasing an additional 1,209,827 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH traded down $0.64 during trading on Monday, reaching $126.69. 1,087,763 shares of the company traded hands, compared to its average volume of 1,514,321. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $149.25. The firm has a market capitalization of $26.03 billion, a PE ratio of 26.04, a PEG ratio of 2.34 and a beta of 1.01. The company's 50 day moving average is $126.50 and its two-hundred day moving average is $118.51.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (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 business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.76%. Zimmer Biomet's dividend payout ratio is presently 19.63%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZBH. JPMorgan Chase & Co. raised their price target 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. Truist Financial upped their price target on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a "hold" rating in a report on Friday, February 9th. Raymond James upped their target price on Zimmer Biomet from $133.00 to $137.00 and gave the company an "outperform" rating in a report on Wednesday, January 3rd. StockNews.com downgraded Zimmer Biomet from a "strong-buy" rating to a "buy" rating in a report on Monday, February 19th. Finally, TheStreet raised Zimmer Biomet from a "c" rating to a "b-" rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of "Hold" and an average price target of $139.39.

Insider Activity

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 44,145 shares of the company's stock, valued at $5,677,929.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company's stock.

About Zimmer Biomet

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.

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