AMF Tjanstepension AB Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

AMF Tjanstepension AB acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the first quarter, Holdings Channel.com reports. The fund acquired 229,578 shares of the medical equipment provider’s stock, valued at approximately $30,300,000.

Other large investors have also modified their holdings of the company. Kestra Advisory Services LLC raised its holdings in Zimmer Biomet by 15.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 6,188 shares of the medical equipment provider’s stock worth $694,000 after buying an additional 820 shares during the period. LPL Financial LLC raised its holdings in shares of Zimmer Biomet by 5.8% during the third quarter. LPL Financial LLC now owns 124,341 shares of the medical equipment provider’s stock valued at $13,954,000 after acquiring an additional 6,865 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Zimmer Biomet by 3.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,539 shares of the medical equipment provider’s stock worth $2,193,000 after purchasing an additional 560 shares during the period. Parkside Financial Bank & Trust grew its position in Zimmer Biomet by 15.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 756 shares of the medical equipment provider’s stock worth $85,000 after purchasing an additional 102 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Zimmer Biomet by 19.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,044 shares of the medical equipment provider’s stock valued at $1,352,000 after purchasing an additional 1,923 shares during the period. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ZBH shares. Truist Financial lowered their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Tuesday, May 21st. Citigroup raised their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. Finally, Oppenheimer lifted their target price 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, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $133.75.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $0.10 during trading on Friday, reaching $108.48. The stock had a trading volume of 2,774,578 shares, compared to its average volume of 1,500,093. The stock has a fifty day simple moving average of $115.29 and a two-hundred day simple moving average of $121.17. 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 52 week low of $102.00 and a 52 week high of $147.50. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is currently 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.