Charles Schwab Investment Management Inc. Lowers Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Charles Schwab Investment Management Inc. lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,204,665 shares of the medical equipment provider’s stock after selling 6,336 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.61% of Zimmer Biomet worth $127,249,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Equity Investment Corp purchased a new position in Zimmer Biomet during the third quarter worth about $70,104,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Zimmer Biomet by 49.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after acquiring an additional 577,320 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Zimmer Biomet in the third quarter worth approximately $41,588,000. Van ECK Associates Corp grew its holdings in Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock valued at $417,814,000 after purchasing an additional 218,688 shares during the period. Finally, FMR LLC increased its position in Zimmer Biomet by 27.6% during the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock worth $80,999,000 after purchasing an additional 162,384 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 owns 8,768 shares in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZBH. Raymond James decreased their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Truist Financial reissued a “hold” rating and set a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Royal Bank of Canada dropped their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $107.87 on Friday. The business has a 50 day moving average price of $105.55 and a two-hundred day moving average price of $107.19. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $97.69 and a fifty-two week high of $133.90. The firm has a market cap of $21.47 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the firm earned $2.20 EPS. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.57%.

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.