Prudential PLC Boosts Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Prudential PLC grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,490 shares of the medical equipment provider’s stock after buying an additional 5,645 shares during the quarter. Prudential PLC’s holdings in Zimmer Biomet were worth $7,867,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ZBH. Private Advisor Group LLC increased its stake in Zimmer Biomet by 12.3% during the 4th quarter. Private Advisor Group LLC now owns 10,610 shares of the medical equipment provider’s stock worth $1,291,000 after buying an additional 1,164 shares during the period. Principal Securities Inc. acquired a new position in shares of Zimmer Biomet in the fourth quarter worth about $237,000. BNP Paribas Financial Markets boosted its holdings in Zimmer Biomet by 1.3% in the fourth quarter. BNP Paribas Financial Markets now owns 200,928 shares of the medical equipment provider’s stock valued at $24,453,000 after purchasing an additional 2,525 shares during the last quarter. QRG Capital Management Inc. grew its stake in Zimmer Biomet by 3.7% during the 4th quarter. QRG Capital Management Inc. now owns 4,393 shares of the medical equipment provider’s stock valued at $535,000 after purchasing an additional 156 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Zimmer Biomet by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,596,726 shares of the medical equipment provider’s stock worth $194,321,000 after purchasing an additional 147,208 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ZBH. Oppenheimer reduced their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Truist Financial reissued a “hold” rating and set a $117.00 price objective on shares of Zimmer Biomet in a report on Thursday, September 5th. Raymond James cut their target price on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, August 8th. Finally, TD Cowen lowered their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $126.00.

Zimmer Biomet Stock Performance

ZBH opened at $104.83 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $110.01 and its 200-day moving average is $116.63. The stock has a market cap of $21.35 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

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.