National Bank of Canada FI Lowers Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

National Bank of Canada FI lessened its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 26.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,480 shares of the medical equipment provider’s stock after selling 32,889 shares during the period. National Bank of Canada FI’s holdings in Zimmer Biomet were worth $11,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in Zimmer Biomet by 21.2% in the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock valued at $545,809,000 after purchasing an additional 852,186 shares in the last quarter. Boston Partners lifted its position in Zimmer Biomet by 29.2% during the 3rd quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock worth $302,366,000 after acquiring an additional 608,959 shares in the last quarter. Barclays PLC boosted its holdings in Zimmer Biomet by 129.2% in the 3rd quarter. Barclays PLC now owns 1,072,494 shares of the medical equipment provider’s stock worth $120,356,000 after acquiring an additional 604,652 shares during the period. Van ECK Associates Corp grew its position in Zimmer Biomet by 23.7% in the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after acquiring an additional 543,344 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Zimmer Biomet in the 3rd quarter worth $57,972,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

ZBH opened at $120.85 on Thursday. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $147.50. The stock has a market cap of $24.86 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 2.18 and a beta of 1.03. The business’s 50 day moving average is $125.07 and its 200-day moving average is $120.44. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.09 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a $0.24 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ZBH shares. Oppenheimer raised their price objective on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 9th. Canaccord Genuity Group reissued a “hold” rating and issued a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Finally, Truist Financial cut their price objective on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $135.40.

Insider Activity at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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.