Franklin Resources Inc. Acquires 2,796,372 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Franklin Resources Inc. lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 398.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,497,764 shares of the medical equipment provider's stock after buying an additional 2,796,372 shares during the quarter. Franklin Resources Inc. owned about 1.76% of Zimmer Biomet worth $369,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Financial LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at about $204,000. Alliancebernstein L.P. increased its holdings in Zimmer Biomet by 7.5% in the fourth quarter. Alliancebernstein L.P. now owns 326,802 shares of the medical equipment provider's stock worth $34,520,000 after purchasing an additional 22,784 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Zimmer Biomet by 23.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 815 shares of the medical equipment provider's stock valued at $85,000 after buying an additional 156 shares during the period. Bcwm LLC bought a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $1,982,000. Finally, United Bank grew its position in shares of Zimmer Biomet by 6.7% during the 4th quarter. United Bank now owns 9,426 shares of the medical equipment provider's stock worth $996,000 after buying an additional 589 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of ZBH traded down $5.20 on Friday, reaching $107.46. 3,852,949 shares of the company's stock traded hands, compared to its average volume of 1,590,792. The stock's 50 day simple moving average is $107.32 and its two-hundred day simple moving average is $107.22. The stock has a market cap of $21.39 billion, a PE ratio of 24.15, a PEG ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $129.50. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43.

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Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $2.20 earnings per share. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's payout ratio is 21.57%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ZBH shares. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Royal Bank of Canada cut their price objective 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 decreased their target price 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. JPMorgan Chase & Co. upgraded 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 report on Tuesday, December 17th. Finally, Truist Financial restated a "hold" rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet has a consensus rating of "Hold" and a consensus price target of $124.15.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the company'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 transaction, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% 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.