Northwest & Ethical Investments L.P. Takes Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Northwest & Ethical Investments L.P. purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,313 shares of the medical equipment provider's stock, valued at approximately $1,934,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Roman Butler Fullerton & Co. acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at $473,000. Geode Capital Management LLC increased its position in Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider's stock worth $524,942,000 after purchasing an additional 125,852 shares during the period. M&T Bank Corp raised its holdings 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 worth $2,884,000 after purchasing an additional 8,709 shares during the last quarter. KLCM Advisors Inc. acquired a new position in Zimmer Biomet during the 4th quarter valued at about $7,825,000. Finally, Peddock Capital Advisors LLC bought a new position in shares of Zimmer Biomet in the 4th quarter valued at about $654,000. Institutional investors own 88.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James dropped their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 7th. Barclays cut their target price on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research note on Monday, February 10th. Finally, Royal Bank of Canada decreased their target price on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Two 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $124.15.

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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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.95% of the company's stock.

Zimmer Biomet Stock Down 0.7 %

NYSE:ZBH traded down $0.74 during trading hours on Tuesday, reaching $110.50. 1,296,857 shares of the stock were exchanged, compared to its average volume of 1,496,527. The stock has a market cap of $22.00 billion, a PE ratio of 24.83, a PEG ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $133.90. The firm has a 50 day moving average of $106.98 and a 200 day moving average of $106.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share 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 period in the prior year, the company earned $2.20 earnings per share. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 annualized dividend and a yield of 0.87%. Zimmer Biomet's payout ratio is presently 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.