Primecap Management Co. CA Sells 174,230 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Primecap Management Co. CA lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,797,150 shares of the medical equipment provider’s stock after selling 174,230 shares during the period. Primecap Management Co. CA’s holdings in Zimmer Biomet were worth $506,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tocqueville Asset Management L.P. acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth about $560,000. Cibc World Markets Corp raised its holdings in shares of Zimmer Biomet by 13.9% in the 4th quarter. Cibc World Markets Corp now owns 31,614 shares of the medical equipment provider’s stock worth $3,339,000 after acquiring an additional 3,854 shares during the last quarter. one8zero8 LLC acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth about $370,000. Natixis Advisors LLC raised its holdings in shares of Zimmer Biomet by 12.1% in the 4th quarter. Natixis Advisors LLC now owns 71,382 shares of the medical equipment provider’s stock worth $7,540,000 after acquiring an additional 7,731 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in Zimmer Biomet in the 4th quarter valued at about $232,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction 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.

Analyst Upgrades and Downgrades

ZBH has been the subject of several analyst reports. Truist Financial reiterated a “hold” rating and issued a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JMP Securities reiterated a “market outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 7th. Royal Bank of Canada decreased their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Stifel Nicolaus increased their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Raymond James decreased their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $111.85 on Tuesday. The firm’s fifty day moving average price is $105.99 and its 200-day moving average price is $106.90. 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 stock has a market cap of $22.26 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $97.69 and a fifty-two week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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 posted $2.20 EPS. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s payout ratio is presently 21.57%.

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.