The Manufacturers Life Insurance Company Boosts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

The Manufacturers Life Insurance Company raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 181,914 shares of the medical equipment provider’s stock after purchasing an additional 3,265 shares during the period. The Manufacturers Life Insurance Company’s holdings in Zimmer Biomet were worth $19,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ZBH. Virtu Financial LLC purchased a new position in Zimmer Biomet during the 2nd quarter worth approximately $882,000. Assetmark Inc. raised its position in Zimmer Biomet by 52.4% in the 3rd quarter. Assetmark Inc. now owns 22,174 shares of the medical equipment provider’s stock valued at $2,318,000 after purchasing an additional 7,621 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in Zimmer Biomet by 18.6% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,367 shares of the medical equipment provider’s stock worth $669,000 after purchasing an additional 1,000 shares during the period. Ballentine Partners LLC grew its position in Zimmer Biomet by 5.5% during the 3rd quarter. Ballentine Partners LLC now owns 4,130 shares of the medical equipment provider’s stock worth $432,000 after purchasing an additional 217 shares during the last quarter. Finally, Czech National Bank acquired a new position in Zimmer Biomet in the third quarter valued at $2,549,000. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Zimmer Biomet Trading Down 0.4 %

NYSE:ZBH opened at $125.48 on Wednesday. Zimmer Biomet Holdings, Inc. has a 52-week low of $100.39 and a 52-week high of $135.05. The company has a quick ratio of 1.05, a current ratio of 1.98 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $123.44 and a 200-day simple moving average of $114.62. The company has a market capitalization of $26.33 billion, a PE ratio of 95.06, a price-to-earnings-growth ratio of 2.37 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBHGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The medical equipment provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.02. Zimmer Biomet had a net margin of 3.89% and a return on equity of 11.92%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned $1.81 earnings per share. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 6.84 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, December 27th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 23rd. This represents a $0.96 annualized dividend and a dividend yield of 0.77%. Zimmer Biomet’s dividend payout ratio is currently 72.73%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ZBH shares. Truist Financial boosted their price target on Zimmer Biomet from $120.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, December 20th. StockNews.com initiated coverage on shares of Zimmer Biomet in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Citigroup lifted their target price on shares of Zimmer Biomet from $116.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, December 12th. Barclays started coverage on shares of Zimmer Biomet in a report on Monday, October 17th. They set an “underweight” rating and a $104.00 price target for the company. Finally, Evercore ISI lowered Zimmer Biomet from an “outperform” rating to an “inline” rating and set a $130.00 price objective on the stock. in a report on Tuesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $128.86.

Zimmer Biomet Profile

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

See Also

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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