CANADA LIFE ASSURANCE Co Grows Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

CANADA LIFE ASSURANCE Co raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 259,831 shares of the medical equipment provider's stock after purchasing an additional 33,137 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.13% of Zimmer Biomet worth $27,422,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Roman Butler Fullerton & Co. purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $473,000. KLCM Advisors Inc. purchased a new position in shares of Zimmer Biomet in the fourth quarter worth $7,825,000. Peddock Capital Advisors LLC bought a new position in shares of Zimmer Biomet during the fourth quarter valued at $654,000. Van ECK Associates Corp boosted its position in shares of Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock valued at $417,814,000 after buying an additional 218,688 shares during the last quarter. Finally, Reinhart Partners LLC. raised its position in Zimmer Biomet by 34.4% in the 4th quarter. Reinhart Partners LLC. now owns 86,755 shares of the medical equipment provider's stock worth $9,164,000 after buying an additional 22,220 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $2.10 during trading hours on Wednesday, hitting $99.54. The company's stock had a trading volume of 1,607,007 shares, compared to its average volume of 1,657,457. The company has a market cap of $19.69 billion, a PE ratio of 22.37, a PEG ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The business has a 50 day moving average price of $105.82 and a two-hundred day moving average price of $106.62. Zimmer Biomet Holdings, Inc. has a 12-month low of $93.10 and a 12-month high of $123.96.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted 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 period in the prior year, the business posted $2.20 earnings per share. Analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.96%. Zimmer Biomet's dividend payout ratio is currently 21.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZBH. Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. JMP Securities reissued a "market outperform" rating and set a $140.00 price target on shares of Zimmer Biomet in a report on Friday, February 7th. Royal Bank of Canada cut their price objective on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, February 7th. BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Finally, Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $124.15.

Insiders Place Their Bets

In related 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 $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 available through this link. Corporate insiders own 0.70% of the company's stock.

Zimmer Biomet 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.