OLD National Bancorp IN Cuts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

OLD National Bancorp IN reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,144 shares of the medical equipment provider’s stock after selling 456 shares during the period. OLD National Bancorp IN’s holdings in Zimmer Biomet were worth $261,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Zimmer Biomet by 1.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,859 shares of the medical equipment provider’s stock valued at $2,295,000 after purchasing an additional 344 shares in the last quarter. Signaturefd LLC increased its holdings in Zimmer Biomet by 12.8% in the 4th quarter. Signaturefd LLC now owns 2,146 shares of the medical equipment provider’s stock valued at $261,000 after purchasing an additional 243 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Zimmer Biomet by 28.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,570 shares of the medical equipment provider’s stock valued at $191,000 after purchasing an additional 344 shares in the last quarter. abrdn plc increased its holdings in Zimmer Biomet by 54.1% in the 4th quarter. abrdn plc now owns 420,593 shares of the medical equipment provider’s stock valued at $51,186,000 after purchasing an additional 147,606 shares in the last quarter. Finally, Naples Money Management LLC acquired a new stake in Zimmer Biomet in the 4th quarter valued at $35,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.95% of the company’s stock.

Zimmer Biomet Trading Down 1.2 %

Zimmer Biomet stock opened at $119.75 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. The firm has a market cap of $24.60 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 2.23 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The firm’s 50 day moving average price is $126.09 and its two-hundred day moving average price is $119.46.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.24 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.80%. Zimmer Biomet’s dividend payout ratio (DPR) is 19.63%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Truist Financial raised their target price on Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised their target price on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 9th. Finally, Evercore ISI raised their target price on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $139.39.

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.