Munich Reinsurance Co Stock Corp in Munich acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 43,598 shares of the medical equipment provider’s stock, valued at approximately $3,753,000.
A number of other institutional investors have also added to or reduced their stakes in ZBH. OMERS ADMINISTRATION Corp bought a new stake in Zimmer Biomet during the 2nd quarter valued at $922,000. Hsbc Holdings PLC purchased a new position in Zimmer Biomet in the second quarter valued at about $35,417,000. PNC Financial Services Group Inc. raised its holdings in Zimmer Biomet by 9.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider’s stock worth $14,495,000 after purchasing an additional 13,883 shares in the last quarter. Morningstar Investment Management LLC lifted its position in shares of Zimmer Biomet by 235.4% during the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider’s stock valued at $5,204,000 after buying an additional 40,610 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Zimmer Biomet by 257.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider’s stock valued at $3,091,000 after buying an additional 24,748 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
Zimmer Biomet Price Performance
Shares of ZBH opened at $97.94 on Friday. The firm has a market capitalization of $18.68 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.87 and a beta of 0.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.94. Zimmer Biomet Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $106.88. The company’s fifty day moving average price is $94.82 and its 200-day moving average price is $91.64.
Zimmer Biomet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Zimmer Biomet’s payout ratio is 23.36%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Truist Financial increased their target price on shares of Zimmer Biomet from $92.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Wednesday, August 5th. Robert W. Baird set a $104.00 target price on Zimmer Biomet in a research note on Thursday, August 6th. Royal Bank Of Canada upped their target price on Zimmer Biomet from $101.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded Zimmer Biomet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $104.42.
View Our Latest Analysis on ZBH
Zimmer Biomet Company Profile
Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.
The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.
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