National Bank of Canada FI Grows Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

National Bank of Canada FI lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 69.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,069 shares of the medical equipment provider’s stock after purchasing an additional 5,354 shares during the quarter. National Bank of Canada FI’s holdings in Zimmer Biomet were worth $1,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Zimmer Biomet by 0.9% during the 4th quarter. BlackRock Inc. now owns 21,761,864 shares of the medical equipment provider’s stock worth $2,764,628,000 after purchasing an additional 196,353 shares during the period. State Street Corp grew its holdings in shares of Zimmer Biomet by 3.3% during the 4th quarter. State Street Corp now owns 9,029,019 shares of the medical equipment provider’s stock worth $1,149,182,000 after purchasing an additional 290,402 shares during the period. American Century Companies Inc. boosted its holdings in Zimmer Biomet by 30.7% during the 4th quarter. American Century Companies Inc. now owns 5,565,287 shares of the medical equipment provider’s stock valued at $707,014,000 after acquiring an additional 1,305,683 shares during the period. Capital International Investors grew its position in Zimmer Biomet by 41.4% in the 4th quarter. Capital International Investors now owns 5,530,514 shares of the medical equipment provider’s stock valued at $702,596,000 after acquiring an additional 1,618,582 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in Zimmer Biomet by 4.9% in the 4th quarter. Primecap Management Co. CA now owns 4,068,620 shares of the medical equipment provider’s stock valued at $516,877,000 after acquiring an additional 190,710 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on Zimmer Biomet from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday. StockNews.com downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. Citigroup lifted their target price on Zimmer Biomet from $114.00 to $119.00 in a research report on Wednesday. Needham & Company LLC downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. Finally, Truist Financial dropped their target price on Zimmer Biomet to $115.00 in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $133.50.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $113.26 on Friday. The stock has a 50 day moving average price of $109.35 and a 200 day moving average price of $117.72. The company has a quick ratio of 0.89, a current ratio of 1.81 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 103.91, a price-to-earnings-growth ratio of 2.62 and a beta of 1.15. Zimmer Biomet Holdings, Inc. has a 52-week low of $100.39 and a 52-week high of $153.76.

Zimmer Biomet (NYSE:ZBHGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.17. Zimmer Biomet had a return on equity of 12.20% and a net margin of 3.10%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 6.79 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Monday, June 27th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, June 24th. Zimmer Biomet’s dividend payout ratio is currently 88.07%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, insider Zuilen Wilfred Van sold 531 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $105.22, for a total value of $55,871.82. Following the completion of the sale, the insider now owns 2,240 shares in the company, valued at $235,692.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.73% of the stock is owned by company insiders.

About Zimmer Biomet

(Get Rating)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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