Magellan Asset Management Ltd Purchases 119,869 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Magellan Asset Management Ltd boosted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 43.7% during the 4th quarter, Holdings Channel reports. The fund owned 394,374 shares of the medical equipment provider’s stock after buying an additional 119,869 shares during the period. Magellan Asset Management Ltd’s holdings in Zimmer Biomet were worth $41,658,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. CKW Financial Group boosted its stake in shares of Zimmer Biomet by 11.7% during the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 100 shares in the last quarter. Romano Brothers AND Company raised its position in shares of Zimmer Biomet by 1.1% in the 4th quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock worth $1,000,000 after acquiring an additional 102 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Zimmer Biomet by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock worth $485,000 after purchasing an additional 102 shares during the last quarter. M&T Bank Corp boosted its position in Zimmer Biomet by 0.4% during the fourth quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider’s stock valued at $2,834,000 after purchasing an additional 108 shares in the last quarter. Finally, Dakota Wealth Management grew its stake in Zimmer Biomet by 1.3% in the fourth quarter. Dakota Wealth Management now owns 9,620 shares of the medical equipment provider’s stock valued at $1,016,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 0.2 %

Shares of ZBH stock opened at $112.54 on Thursday. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $130.89. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 25.29, 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 stock has a 50 day simple moving average of $107.35 and a 200-day simple moving average of $107.18.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data 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 net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the prior year, the business earned $2.20 EPS. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet’s payout ratio is currently 21.57%.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ZBH shares. Stifel Nicolaus raised their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Barclays reduced 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. Raymond James lowered their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Truist Financial restated a “hold” rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Company 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.