Allspring Global Investments Holdings LLC Trims Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Allspring Global Investments Holdings LLC reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,552,406 shares of the medical equipment provider’s stock after selling 16,905 shares during the period. Allspring Global Investments Holdings LLC owned 1.28% of Zimmer Biomet worth $266,643,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ZBH. Geode Capital Management LLC lifted its holdings in Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after buying an additional 411,163 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after buying an additional 577,320 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Zimmer Biomet by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock worth $108,621,000 after buying an additional 4,388 shares in the last quarter. Finally, FMR LLC raised its holdings in Zimmer Biomet by 27.6% during the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after acquiring an additional 162,384 shares during the period. 88.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ZBH shares. Stifel Nicolaus lifted their target price on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Oppenheimer reduced their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Finally, Barclays dropped their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $99.13 on Wednesday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $98.94 and a fifty-two week high of $133.90. The company has a market capitalization of $19.73 billion, a PE ratio of 22.28, a P/E/G ratio of 1.83 and a beta of 1.02. The company has a 50 day moving average price of $107.14 and a 200-day moving average price of $107.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share 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 last year, the firm posted $2.20 earnings per share. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.25 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.97%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 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.