Wahed Invest LLC Buys 324 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wahed Invest LLC lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,288 shares of the medical equipment provider’s stock after acquiring an additional 324 shares during the quarter. Wahed Invest LLC’s holdings in Zimmer Biomet were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZBH. Franklin Resources Inc. lifted its holdings in Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock worth $369,469,000 after acquiring an additional 2,796,372 shares during the period. Norges Bank purchased a new stake in Zimmer Biomet in the 4th quarter worth about $216,223,000. Dodge & Cox lifted its holdings in Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares during the last quarter. Sound Shore Management Inc. CT bought a new position in Zimmer Biomet in the 4th quarter worth approximately $81,447,000. Finally, FMR LLC grew its position in shares of Zimmer Biomet by 91.6% in the fourth quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider’s stock valued at $151,897,000 after purchasing an additional 687,675 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $102.08 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $93.10 and a one year high of $122.25. The firm has a market capitalization of $20.20 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. The company has a 50-day simple moving average of $105.53 and a two-hundred day simple moving average of $106.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the firm earned $2.20 EPS. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.94%. The ex-dividend date was Monday, March 31st. Zimmer Biomet’s dividend payout ratio (DPR) is 21.57%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ZBH shares. Stifel Nicolaus raised their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial reissued a “hold” rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Barclays lowered their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada reduced their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Two investment 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $124.15.

About Zimmer Biomet

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.