Sequoia Financial Advisors LLC Raises Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sequoia Financial Advisors LLC boosted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,965 shares of the medical equipment provider's stock after acquiring an additional 42,539 shares during the quarter. Sequoia Financial Advisors LLC owned 0.07% of Zimmer Biomet worth $18,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Zimmer Biomet by 19.0% during 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 last quarter. American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 21.2% during the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider's stock valued at $545,809,000 after buying an additional 852,186 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Zimmer Biomet by 2.3% during the first quarter. Geode Capital Management LLC now owns 4,315,167 shares of the medical equipment provider's stock valued at $556,244,000 after buying an additional 96,028 shares during the last quarter. Morgan Stanley grew 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 buying an additional 1,384,068 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Zimmer Biomet by 4.9% during the third quarter. Victory Capital Management Inc. now owns 3,080,463 shares of the medical equipment provider's stock valued at $345,690,000 after buying an additional 144,147 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ZBH shares. JPMorgan Chase & Co. increased their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. Canaccord Genuity Group reiterated a "hold" rating and set a $130.00 target price on shares of Zimmer Biomet in a report on Friday, February 23rd. StockNews.com lowered shares of Zimmer Biomet from a "strong-buy" rating to a "buy" rating in a report on Monday, February 19th. Truist Financial increased their target price on shares of Zimmer Biomet from $133.00 to $135.00 and gave the stock a "hold" rating in a report on Friday, February 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and an average price target of $139.39.

Zimmer Biomet Stock Up 2.1 %

Shares of ZBH traded up $2.71 during mid-day trading on Tuesday, reaching $129.40. The company had a trading volume of 1,202,247 shares, compared to its average volume of 1,509,754. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. The firm has a 50-day moving average price of $126.72 and a 200 day moving average price of $118.66. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $149.25. The company has a market capitalization of $26.59 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued 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 firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.93 billion. During the same period in the previous year, the firm posted $1.88 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given 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 0.74%. Zimmer Biomet's dividend payout ratio is currently 19.63%.

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.