Heritage Trust Co Invests $1.94 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Heritage Trust Co acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,350 shares of the medical equipment provider’s stock, valued at approximately $1,938,000.

Several other institutional investors have also added to or reduced their stakes in the business. Kennedy Capital Management LLC raised its position in shares of Zimmer Biomet by 26.1% in the fourth quarter. Kennedy Capital Management LLC now owns 31,426 shares of the medical equipment provider’s stock valued at $3,320,000 after purchasing an additional 6,505 shares during the period. Bessemer Group Inc. raised its holdings in Zimmer Biomet by 6.0% during the 4th quarter. Bessemer Group Inc. now owns 3,025 shares of the medical equipment provider’s stock valued at $320,000 after acquiring an additional 171 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth $21,234,000. APG Asset Management N.V. boosted its holdings in shares of Zimmer Biomet by 795.2% in the fourth quarter. APG Asset Management N.V. now owns 125,000 shares of the medical equipment provider’s stock worth $12,751,000 after acquiring an additional 111,036 shares during the period. Finally, Bank of Nova Scotia grew its position in shares of Zimmer Biomet by 704.6% in the fourth quarter. Bank of Nova Scotia now owns 210,487 shares of the medical equipment provider’s stock valued at $22,234,000 after purchasing an additional 184,327 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZBH has been the topic of a number of recent research reports. Raymond James dropped their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. JPMorgan Chase & Co. raised shares of 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. Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Barclays reduced their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $102.52 on Friday. The firm has a fifty day simple moving average of $106.42 and a two-hundred day simple moving average of $107.07. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $128.55. The company has a market capitalization of $20.41 billion, a PE ratio of 23.04, a P/E/G ratio of 1.95 and a beta of 0.84. 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 (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share 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 in the previous year, the firm posted $2.20 earnings per share. Research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s payout ratio is 21.57%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were 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. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.95% of the stock is currently owned by company insiders.

About Zimmer Biomet

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.