Massachusetts Financial Services Co. MA Cuts Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Massachusetts Financial Services Co. MA lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,003,066 shares of the medical equipment provider’s stock after selling 3,151 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Zimmer Biomet were worth $105,954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Roman Butler Fullerton & Co. purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $473,000. Geode Capital Management LLC increased its stake in shares of Zimmer Biomet by 2.6% in the third 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 period. M&T Bank Corp raised its holdings in Zimmer Biomet by 48.4% during the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock valued at $2,884,000 after buying an additional 8,709 shares during the last quarter. KLCM Advisors Inc. purchased a new stake in Zimmer Biomet during the 4th quarter valued at $7,825,000. Finally, Peddock Capital Advisors LLC bought a new stake in Zimmer Biomet in the 4th quarter worth $654,000. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ZBH shares. Truist Financial reaffirmed a “hold” rating and set a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Barclays cut their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their target price for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Finally, Raymond James cut 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. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $124.15.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Zimmer Biomet Price Performance

ZBH stock opened at $107.46 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The firm has a 50 day moving average price of $107.32 and a 200-day moving average price of $107.21. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $129.50. The firm has a market capitalization of $21.39 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the previous year, the business earned $2.20 earnings per share. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. 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.