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

Posted by Defense World Staff on Apr 3rd, 2023

National Bank of Canada FI increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 293.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 160,107 shares of the medical equipment provider’s stock after buying an additional 119,434 shares during the period. National Bank of Canada FI owned about 0.08% of Zimmer Biomet worth $20,411,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Old North State Trust LLC purchased a new stake in shares of Zimmer Biomet during the third quarter worth approximately $54,000. UBS Asset Management Americas Inc. increased its stake in shares of Zimmer Biomet by 5.2% during the third quarter. UBS Asset Management Americas Inc. now owns 817,386 shares of the medical equipment provider’s stock worth $85,458,000 after buying an additional 40,317 shares during the period. Nicolet Advisory Services LLC increased its stake in shares of Zimmer Biomet by 34.3% during the third quarter. Nicolet Advisory Services LLC now owns 2,544 shares of the medical equipment provider’s stock worth $272,000 after buying an additional 650 shares during the period. Assetmark Inc. increased its stake in shares of Zimmer Biomet by 52.4% during the third quarter. Assetmark Inc. now owns 22,174 shares of the medical equipment provider’s stock worth $2,318,000 after buying an additional 7,621 shares during the period. Finally, Ballentine Partners LLC increased its stake in Zimmer Biomet by 5.5% in the third quarter. Ballentine Partners LLC now owns 4,130 shares of the medical equipment provider’s stock valued at $432,000 after purchasing an additional 217 shares during the last quarter. 87.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on ZBH shares. StockNews.com started coverage on shares of Zimmer Biomet in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Evercore ISI lowered shares of Zimmer Biomet from an “outperform” rating to an “inline” rating and set a $130.00 price target on the stock. in a research note on Tuesday, January 3rd. Jefferies Financial Group upgraded shares of Zimmer Biomet from an “underperform” rating to a “hold” rating and increased their price target for the company from $115.00 to $130.00 in a research note on Friday. Loop Capital increased their price target on shares of Zimmer Biomet from $125.00 to $140.00 in a research note on Monday, February 6th. Finally, Robert W. Baird increased their price target on shares of Zimmer Biomet from $133.00 to $145.00 in a research note on Monday, February 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $133.06.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $129.20 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 0.97. The stock has a fifty day moving average price of $125.78 and a 200 day moving average price of $119.89. Zimmer Biomet Holdings, Inc. has a 1-year low of $100.39 and a 1-year high of $135.05. The company has a market cap of $27.00 billion, a PE ratio of 117.45, a P/E/G ratio of 2.96 and a beta of 1.00.

Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its quarterly earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.05. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $1.95 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.04 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Wednesday, March 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Tuesday, March 28th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 87.27%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 23,045 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $124.50, for a total value of $2,869,102.50. Following the completion of the sale, the vice president now owns 43,671 shares of the company’s stock, valued at $5,437,039.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Zimmer Biomet Profile

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.