Prudential Financial Inc. Sells 100,542 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Prudential Financial Inc. reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 48.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 108,347 shares of the medical equipment provider’s stock after selling 100,542 shares during the quarter. Prudential Financial Inc.’s holdings in Zimmer Biomet were worth $11,445,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dunhill Financial LLC boosted its holdings in Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Stonebridge Financial Group LLC bought a new stake in Zimmer Biomet during the fourth quarter valued at $25,000. Brooklyn Investment Group purchased a new position in Zimmer Biomet during the third quarter worth about $35,000. Kentucky Trust Co bought a new position in Zimmer Biomet in the 4th quarter worth about $39,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ZBH shares. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Raymond James cut their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. 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. Finally, Royal Bank of Canada cut their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Stock Up 0.1 %

NYSE ZBH opened at $112.21 on Friday. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $131.61. The stock has a market capitalization of $22.34 billion, a PE ratio of 25.22, a PEG ratio of 1.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The business’s 50-day moving average is $107.18 and its 200 day moving average is $107.01.

Zimmer Biomet (NYSE:ZBH) last posted its 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 quarter in the previous year, the firm earned $2.20 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

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

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.95% of the stock is owned by corporate insiders.

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.