Norway Savings Bank Trims Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Norway Savings Bank decreased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,571 shares of the medical equipment provider’s stock after selling 486 shares during the quarter. Norway Savings Bank’s holdings in Zimmer Biomet were worth $905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. American Century Companies Inc. increased its position in Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after buying an additional 411,163 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Zimmer Biomet by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after acquiring an additional 9,990 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Zimmer Biomet by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,810,770 shares of the medical equipment provider’s stock valued at $196,523,000 after acquiring an additional 154,447 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 0.4 %

Shares of ZBH traded down $0.38 during midday trading on Tuesday, hitting $103.18. The company had a trading volume of 836,731 shares, compared to its average volume of 1,165,927. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The company’s 50 day moving average price is $108.38 and its 200 day moving average price is $108.18. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.93%. Zimmer Biomet’s payout ratio is 18.25%.

Analysts Set New Price Targets

ZBH has been the topic of a number of research reports. Evercore ISI cut their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Royal Bank of Canada raised their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wolfe Research began coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating for the company. Truist Financial raised their target price on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.33.

Zimmer Biomet Company 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.