Primecap Management Co. CA Has $506.72 Million Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Primecap Management Co. CA lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,797,150 shares of the medical equipment provider’s stock after selling 174,230 shares during the quarter. Primecap Management Co. CA owned 2.41% of Zimmer Biomet worth $506,723,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ZBH. Atria Investments Inc raised its stake in Zimmer Biomet by 60.2% during the 3rd quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock worth $586,000 after buying an additional 2,041 shares during the period. KBC Group NV raised its stake in shares of Zimmer Biomet by 64.0% in the 3rd quarter. KBC Group NV now owns 25,287 shares of the medical equipment provider’s stock valued at $2,730,000 after purchasing an additional 9,864 shares during the period. CIBC Asset Management Inc raised its stake in shares of Zimmer Biomet by 7.4% in the 3rd quarter. CIBC Asset Management Inc now owns 29,718 shares of the medical equipment provider’s stock valued at $3,208,000 after purchasing an additional 2,039 shares during the period. Empowered Funds LLC raised its stake in shares of Zimmer Biomet by 6.8% in the 3rd quarter. Empowered Funds LLC now owns 4,135 shares of the medical equipment provider’s stock valued at $446,000 after purchasing an additional 265 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of Zimmer Biomet by 24.7% in the 3rd quarter. Natixis Advisors LLC now owns 63,651 shares of the medical equipment provider’s stock valued at $6,871,000 after purchasing an additional 12,602 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 1.7 %

Shares of ZBH stock opened at $111.85 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. 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. The stock has a 50 day simple moving average of $105.99 and a 200 day simple moving average of $106.90. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company earned $2.20 earnings per share. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 0.86%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.95% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the topic of several recent research reports. Royal Bank of Canada dropped their price target on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Barclays dropped their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Raymond James lowered their target price on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $124.15.

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.