Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Boosted by Bank of Nova Scotia

Bank of Nova Scotia grew its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 704.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,487 shares of the medical equipment provider's stock after purchasing an additional 184,327 shares during the quarter. Bank of Nova Scotia owned approximately 0.11% of Zimmer Biomet worth $22,234,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. CKW Financial Group lifted its position in shares of Zimmer Biomet by 11.7% in the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider's stock valued at $101,000 after acquiring 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 fourth quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider's stock valued at $1,000,000 after buying an additional 102 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Zimmer Biomet by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider's stock worth $485,000 after acquiring an additional 102 shares during the last quarter. M&T Bank Corp grew its stake in Zimmer Biomet by 0.4% in the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider's stock worth $2,834,000 after acquiring an additional 108 shares during the period. Finally, Dakota Wealth Management raised its holdings in Zimmer Biomet by 1.3% in the 4th quarter. Dakota Wealth Management now owns 9,620 shares of the medical equipment provider's stock valued at $1,016,000 after acquiring an additional 122 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ZBH shares. Barclays decreased their price objective on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a report on Monday, February 10th. Stifel Nicolaus lifted their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Truist Financial reiterated a "hold" rating and set a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $124.15.

Insiders Place Their Bets

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

Zimmer Biomet Stock Down 3.5 %

Shares of Zimmer Biomet stock traded down $3.52 on Tuesday, hitting $98.45. 859,489 shares of the company's stock traded hands, compared to its average volume of 1,966,212. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $124.32. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $19.60 billion, a P/E ratio of 22.12, a PEG ratio of 1.95 and a beta of 0.84. The firm's 50-day moving average is $106.19 and its 200 day moving average is $106.99.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating 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 prior year, the business posted $2.20 EPS. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.98%. The ex-dividend date is Monday, March 31st. Zimmer Biomet's payout ratio is currently 21.57%.

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.