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

Allspring Global Investments Holdings LLC decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.7% in the fourth quarter, HoldingsChannel reports. The fund owned 2,552,406 shares of the medical equipment provider’s stock after selling 16,905 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Zimmer Biomet were worth $266,643,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ZBH. Kentucky Trust Co purchased a new position in shares of Zimmer Biomet in the fourth quarter worth $39,000. Stonebridge Financial Group LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $25,000. Summit Trail Advisors LLC raised its stake in Zimmer Biomet by 31.8% in the 4th quarter. Summit Trail Advisors LLC now owns 4,533 shares of the medical equipment provider’s stock worth $480,000 after acquiring an additional 1,095 shares during the last quarter. Paladin Wealth LLC lifted its position in Zimmer Biomet by 9.5% during the 4th quarter. Paladin Wealth LLC now owns 5,457 shares of the medical equipment provider’s stock worth $576,000 after acquiring an additional 472 shares during the period. Finally, Stephens Inc. AR grew its stake in Zimmer Biomet by 3.4% during the 4th quarter. Stephens Inc. AR now owns 6,116 shares of the medical equipment provider’s stock valued at $646,000 after purchasing an additional 202 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ZBH shares. Raymond James reduced their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Truist Financial reiterated a “hold” rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Barclays decreased their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $99.13 on Wednesday. Zimmer Biomet Holdings, Inc. has a twelve month low of $98.94 and a twelve month high of $133.90. The company has a market cap of $19.73 billion, a P/E ratio of 22.28, a P/E/G ratio of 1.83 and a beta of 1.02. The company has a current ratio of 1.91, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $107.14 and its 200-day moving average price is $107.99.

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, topping 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 quarter in the previous year, the company posted $2.20 EPS. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.25 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

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