Huntington National Bank Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Huntington National Bank increased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,013 shares of the medical equipment provider’s stock after acquiring an additional 1,027 shares during the quarter. Huntington National Bank’s holdings in Zimmer Biomet were worth $741,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment purchased a new position in shares of Zimmer Biomet in the fourth quarter valued at about $762,000. Diametric Capital LP bought a new stake in Zimmer Biomet during the 4th quarter valued at approximately $381,000. National Bank of Canada FI lifted its holdings in Zimmer Biomet by 27.5% in the 4th quarter. National Bank of Canada FI now owns 263,462 shares of the medical equipment provider’s stock worth $27,830,000 after purchasing an additional 56,797 shares in the last quarter. Franklin Resources Inc. boosted its stake in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock worth $369,469,000 after purchasing an additional 2,796,372 shares during the period. Finally, Summit Financial LLC purchased a new stake in Zimmer Biomet during the 4th quarter valued at approximately $204,000. Institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Truist Financial restated a “hold” rating and set a $113.00 target price (down previously 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 lifted their target price for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Raymond James dropped their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $124.15.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Zimmer Biomet Stock Down 4.6 %

Shares of ZBH opened at $107.46 on Friday. The firm has a fifty day moving average price of $107.32 and a 200-day moving average price of $107.21. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $21.39 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $129.50.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results 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 net margin of 11.77% and a return on equity of 12.99%. During the same period in the prior year, the company posted $2.20 EPS. Equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced 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. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is 21.57%.

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.