Aigen Investment Management LP purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,188 shares of the medical equipment provider’s stock, valued at approximately $670,000.
Several other institutional investors and hedge funds have also modified their holdings of ZBH. BlackRock Inc. boosted its holdings in shares of Zimmer Biomet by 7.9% during the 1st quarter. BlackRock Inc. now owns 20,926,199 shares of the medical equipment provider’s stock valued at $3,349,866,000 after acquiring an additional 1,530,505 shares in the last quarter. Viking Global Investors LP boosted its holdings in shares of Zimmer Biomet by 128.8% during the 4th quarter. Viking Global Investors LP now owns 3,867,074 shares of the medical equipment provider’s stock valued at $595,877,000 after acquiring an additional 2,176,989 shares in the last quarter. Boston Partners boosted its holdings in shares of Zimmer Biomet by 10.2% during the 1st quarter. Boston Partners now owns 2,137,074 shares of the medical equipment provider’s stock valued at $342,230,000 after acquiring an additional 197,219 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Zimmer Biomet by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,023,426 shares of the medical equipment provider’s stock valued at $311,792,000 after acquiring an additional 41,605 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Zimmer Biomet during the 4th quarter valued at $304,733,000. Institutional investors own 88.35% of the company’s stock.
Shares of Zimmer Biomet stock opened at $159.26 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $112.00 and a one year high of $180.36. The company has a market cap of $33.20 billion, a price-to-earnings ratio of 59.20, a price-to-earnings-growth ratio of 2.42 and a beta of 1.35. The company has a 50-day moving average price of $168.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.39 and a quick ratio of 1.19.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Monday, June 28th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.60%. Zimmer Biomet’s payout ratio is 16.93%.
Several research analysts have commented on the company. TheStreet downgraded Zimmer Biomet from a “b-” rating to a “c+” rating in a report on Monday, March 29th. Truist lifted their target price on Zimmer Biomet from $174.00 to $188.00 in a report on Wednesday, May 5th. Wells Fargo & Company lifted their target price on Zimmer Biomet from $176.00 to $183.00 and gave the stock an “overweight” rating in a report on Monday, March 1st. Oppenheimer lifted their target price on Zimmer Biomet from $185.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Finally, Northland Securities raised Zimmer Biomet from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $165.00 to $200.00 in a report on Thursday, April 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Zimmer Biomet presently has an average rating of “Buy” and an average target price of $179.35.
In related news, Director Arthur J. Higgins acquired 1,000 shares of the firm’s stock in a transaction on Thursday, May 6th. The stock was purchased at an average cost of $171.58 per share, with a total value of $171,580.00. Following the acquisition, the director now owns 3,400 shares of the company’s stock, valued at approximately $583,372. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides orthopaedic reconstructive products, such as knee and hip replacement products; S.E.T.
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