Magellan Asset Management Ltd Grows Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Magellan Asset Management Ltd boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 394,374 shares of the medical equipment provider's stock after acquiring an additional 119,869 shares during the period. Magellan Asset Management Ltd owned 0.20% of Zimmer Biomet worth $41,658,000 as of its most recent filing with the Securities and Exchange Commission.

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

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Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the company'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 sale, the senior vice president now owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by company insiders.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $0.09 during mid-day trading on Tuesday, hitting $104.75. 423,714 shares of the stock traded hands, compared to its average volume of 1,589,033. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $129.50. The firm has a 50 day simple moving average of $107.16 and a two-hundred day simple moving average of $107.22. 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 company has a market cap of $20.85 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the previous year, the company earned $2.20 EPS. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 0.92%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.57%.

Analysts Set New Price Targets

A number of research firms recently commented on ZBH. Royal Bank of Canada lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Raymond James lowered their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research 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. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their target price for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. 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 company's stock. According to data from MarketBeat.com, Zimmer Biomet presently has an average rating of "Hold" and a consensus target price of $124.15.

About Zimmer Biomet

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.