Mystic Asset Management Inc. Invests $287,000 in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mystic Asset Management Inc. purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,717 shares of the medical equipment provider's stock, valued at approximately $287,000.

Several other hedge funds have also recently modified their holdings of ZBH. Dunhill Financial LLC increased its position in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider's stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Zimmer Biomet during the fourth quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in Zimmer Biomet during the third quarter valued at $35,000. Kentucky Trust Co purchased a new stake in Zimmer Biomet during the fourth quarter valued at $39,000. Finally, OFI Invest Asset Management purchased a new stake in Zimmer Biomet during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded down $0.99 during midday trading on Friday, reaching $110.79. 2,942,594 shares of the stock traded hands, compared to its average volume of 1,498,058. The stock's fifty day moving average is $106.74 and its 200-day moving average is $106.93. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $133.90. The stock has a market cap of $22.05 billion, a P/E ratio of 24.90, a PEG ratio of 1.95 and a beta of 1.04. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

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Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results 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 return on equity of 12.99% and a net margin of 11.77%. During the same quarter last year, the firm earned $2.20 earnings per share. As a group, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Zimmer Biomet's payout ratio is 21.57%.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 of the company's stock, valued at $915,379.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.95% of the company's stock.

Analyst Ratings Changes

ZBH has been the subject of a number of research reports. Truist Financial reiterated a "hold" rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Raymond James reduced 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. JMP Securities restated a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Stifel Nicolaus upped their price target on Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.