82,300 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Purchased by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 82,300 shares of the medical equipment provider’s stock, valued at approximately $10,862,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Zimmer Biomet during the fourth quarter worth approximately $266,896,000. American Century Companies Inc. lifted its position in shares of Zimmer Biomet by 21.2% in the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock valued at $545,809,000 after acquiring an additional 852,186 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Zimmer Biomet by 23.7% in the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after acquiring an additional 543,344 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Zimmer Biomet in the third quarter valued at approximately $57,972,000. Finally, Primecap Management Co. CA lifted its position in shares of Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after acquiring an additional 484,151 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays cut their price target on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. The Goldman Sachs Group assumed coverage on Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price target for the company. Evercore ISI increased their price target on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Citigroup increased their price target on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, Truist Financial cut their target price on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $133.75.

Zimmer Biomet Trading Down 0.4 %

Shares of NYSE ZBH traded down $0.38 during trading on Tuesday, reaching $108.08. The stock had a trading volume of 579,502 shares, compared to its average volume of 1,475,015. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. The business’s 50-day moving average price is $116.28 and its 200-day moving average price is $121.49. The company has a market cap of $22.24 billion, a P/E ratio of 23.48, a PEG ratio of 1.94 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. Zimmer Biomet’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 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.