HBK Sorce Advisory LLC Reduces Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

HBK Sorce Advisory LLC reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,697 shares of the medical equipment provider’s stock after selling 113 shares during the period. HBK Sorce Advisory LLC’s holdings in Zimmer Biomet were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Zimmer Biomet by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after purchasing an additional 3,695,510 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Zimmer Biomet by 92,041.0% during the 4th 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 period. Norges Bank purchased a new position in shares of Zimmer Biomet during the 4th quarter worth about $231,471,000. Morgan Stanley boosted its stake in shares of Zimmer Biomet by 80.5% during the 4th 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 period. Finally, Victory Capital Management Inc. boosted its stake in shares of Zimmer Biomet by 657.0% during the 4th 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 period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZBH has been the subject of a number of recent analyst reports. Citigroup lifted their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Evercore ISI lifted their price objective on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Raymond James lifted their price objective on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Truist Financial lifted their price objective 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $139.39.

Zimmer Biomet Trading Down 2.4 %

NYSE ZBH opened at $124.48 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. The firm has a market cap of $25.58 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The company has a 50 day moving average price of $126.73 and a 200 day moving average price of $118.83. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $149.25.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. Zimmer Biomet’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced 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 0.77%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 19.63%.

Insiders Place Their Bets

In other Zimmer Biomet 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 transaction of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.95% of the stock is owned by insiders.

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.