Natixis Buys 10,161 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Posted by Defense World Staff on Jun 11th, 2023

Natixis increased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 77.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,321 shares of the medical equipment provider’s stock after acquiring an additional 10,161 shares during the quarter. Natixis’ holdings in Zimmer Biomet were worth $2,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Creative Capital Management Investments LLC purchased a new stake in Zimmer Biomet during the 4th quarter valued at about $25,000. New England Capital Financial Advisors LLC purchased a new position in shares of Zimmer Biomet in the fourth quarter worth approximately $27,000. Guardian Wealth Advisors LLC purchased a new position in shares of Zimmer Biomet in the third quarter worth approximately $28,000. US Asset Management LLC purchased a new position in shares of Zimmer Biomet in the fourth quarter worth approximately $33,000. Finally, Horizon Bancorp Inc. IN purchased a new position in shares of Zimmer Biomet in the fourth quarter worth approximately $38,000. 87.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Chad F. Phipps sold 23,045 shares of the stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $124.50, for a total transaction of $2,869,102.50. Following the transaction, the vice president now owns 43,671 shares in the company, valued at approximately $5,437,039.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ZBH shares. Royal Bank of Canada raised their target price on shares of Zimmer Biomet from $141.00 to $156.00 in a research note on Wednesday, May 3rd. FIG Partners raised shares of Zimmer Biomet to a “neutral” rating in a research note on Wednesday, May 3rd. Sanford C. Bernstein lifted their price objective on shares of Zimmer Biomet from $136.00 to $152.00 in a research note on Wednesday, May 3rd. Evercore ISI raised shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $135.00 to $148.00 in a research note on Tuesday, April 11th. Finally, Piper Sandler raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $135.00 to $145.00 in a research note on Thursday, March 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.67.

Zimmer Biomet Stock Performance

ZBH opened at $136.01 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $100.39 and a 52-week high of $149.25. The company has a quick ratio of 0.93, a current ratio of 1.89 and a debt-to-equity ratio of 0.43. The company has a market cap of $28.37 billion, a P/E ratio of 63.56, a price-to-earnings-growth ratio of 2.48 and a beta of 1.01. The firm’s 50-day moving average price is $133.68 and its 200-day moving average price is $128.13.

Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its earnings results on Tuesday, May 2nd. The medical equipment provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.25. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.70 billion. Zimmer Biomet had a return on equity of 12.43% and a net margin of 6.33%. Zimmer Biomet’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.45 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, June 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 23rd. This represents a $0.96 annualized dividend and a yield of 0.71%. Zimmer Biomet’s dividend payout ratio is presently 44.86%.

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.