Wellington Management Group LLP Purchases Shares of 10,968 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wellington Management Group LLP acquired a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,968 shares of the medical equipment provider’s stock, valued at approximately $1,335,000.

Several other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $266,896,000. American Century Companies Inc. lifted its holdings in Zimmer Biomet by 21.2% during the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock valued at $545,809,000 after purchasing an additional 852,186 shares during the last quarter. Van ECK Associates Corp boosted its position in Zimmer Biomet by 23.7% during the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after purchasing an additional 543,344 shares during the period. Primecap Management Co. CA increased its holdings 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 purchasing an additional 484,151 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Zimmer Biomet by 16.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock worth $335,895,000 after buying an additional 386,019 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZBH. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 30th. Evercore ISI lifted their price target on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $140.00 to $115.00 in a report on Monday. Truist Financial dropped their target price on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, Oppenheimer upped their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $132.65.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $105.96 on Tuesday. The stock has a market cap of $21.80 billion, a PE ratio of 22.94, a P/E/G ratio of 1.95 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $144.80. The business’s 50-day moving average price is $115.29 and its two-hundred day moving average price is $121.22.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 EPS. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Zimmer Biomet’s payout ratio is presently 20.78%.

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.