Northwest & Ethical Investments L.P. Purchases New Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Northwest & Ethical Investments L.P. purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,313 shares of the medical equipment provider’s stock, valued at approximately $1,934,000.

Several other large investors have also recently bought and sold shares of ZBH. Empowered Funds LLC raised its position in Zimmer Biomet by 6.8% during the third quarter. Empowered Funds LLC now owns 4,135 shares of the medical equipment provider’s stock valued at $446,000 after buying an additional 265 shares during the period. Natixis Advisors LLC increased its position in Zimmer Biomet by 24.7% in the 3rd quarter. Natixis Advisors LLC now owns 63,651 shares of the medical equipment provider’s stock worth $6,871,000 after purchasing an additional 12,602 shares during the last quarter. Pathstone Holdings LLC increased its position in Zimmer Biomet by 5.2% in the 3rd quarter. Pathstone Holdings LLC now owns 73,039 shares of the medical equipment provider’s stock worth $7,885,000 after purchasing an additional 3,612 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Zimmer Biomet in the 3rd quarter worth about $81,000. Finally, Intech Investment Management LLC increased its position in Zimmer Biomet by 21.3% in the 3rd quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock worth $257,000 after purchasing an additional 417 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

ZBH opened at $110.79 on Friday. The stock’s 50 day moving average price is $106.74 and its two-hundred day moving average price is $106.93. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $133.90. The firm has a market capitalization of $22.05 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping 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 period in the prior year, the company posted $2.20 earnings per share. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ZBH shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 7th. Truist Financial reaffirmed a “hold” rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Finally, Royal Bank of Canada lowered their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Two 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $124.15.

Insiders Place Their Bets

In related 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 transaction of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.95% 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.