Desjardins Global Asset Management Inc. Grows Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Desjardins Global Asset Management Inc. increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,823 shares of the medical equipment provider’s stock after buying an additional 181 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Zimmer Biomet were worth $2,047,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Schechter Investment Advisors LLC grew its stake in shares of Zimmer Biomet by 21.6% in the third quarter. Schechter Investment Advisors LLC now owns 4,241 shares of the medical equipment provider’s stock valued at $476,000 after buying an additional 752 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in Zimmer Biomet by 5.9% during the third quarter. Atria Wealth Solutions Inc. now owns 20,566 shares of the medical equipment provider’s stock worth $2,312,000 after purchasing an additional 1,144 shares during the period. International Assets Investment Management LLC lifted its position in shares of Zimmer Biomet by 11,244.9% during the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock worth $8,146,000 after purchasing an additional 66,345 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Zimmer Biomet by 3.0% in the third quarter. Amalgamated Bank now owns 56,166 shares of the medical equipment provider’s stock valued at $6,303,000 after purchasing an additional 1,631 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Zimmer Biomet by 37.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock valued at $18,981,000 after purchasing an additional 42,539 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. Evercore ISI boosted their target price on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a research report on Friday, February 23rd. Truist Financial boosted their price objective on Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Barclays raised their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $139.39.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $122.07 on Wednesday. The stock has a market capitalization of $25.08 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.28 and a beta of 1.01. The firm’s fifty day simple moving average is $126.59 and its 200-day simple moving average is $119.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $149.25.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 earnings per share. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 19.63%.

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.