Bank of Montreal Can Increases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bank of Montreal Can grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 47.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,766 shares of the medical equipment provider's stock after buying an additional 95,667 shares during the period. Bank of Montreal Can owned 0.15% of Zimmer Biomet worth $31,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Roman Butler Fullerton & Co. purchased a new stake in Zimmer Biomet in the fourth quarter worth about $473,000. Geode Capital Management LLC grew its stake in shares of Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider's stock worth $524,942,000 after buying an additional 125,852 shares during the last quarter. M&T Bank Corp increased its position in Zimmer Biomet by 48.4% during the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider's stock valued at $2,884,000 after buying an additional 8,709 shares in the last quarter. KLCM Advisors Inc. purchased a new position in Zimmer Biomet during the fourth quarter valued at $7,825,000. Finally, Peddock Capital Advisors LLC bought a new stake in Zimmer Biomet in the fourth quarter worth $654,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ZBH. Truist Financial reaffirmed a "hold" rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Stifel Nicolaus upped their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. raised Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Raymond James reduced their target price on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Finally, Barclays lowered their price target on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $124.15.

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Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded down $0.51 during trading on Monday, hitting $101.84. The company had a trading volume of 2,164,629 shares, compared to its average volume of 1,633,558. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $127.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The firm has a market capitalization of $20.27 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The stock has a 50 day simple moving average of $106.31 and a 200 day simple moving average of $107.03.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates 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 previous year, the business posted $2.20 EPS. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared 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 yield of 0.94%. Zimmer Biomet's dividend payout ratio is presently 21.57%.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.95% of the company's stock.

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.