Raymond James Financial Inc. Purchases New Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Raymond James Financial Inc. bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 201,020 shares of the medical equipment provider’s stock, valued at approximately $21,234,000.

Several other hedge funds have also recently bought and sold shares of the stock. Stonebridge Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $25,000. Dunhill Financial LLC grew its stake in shares of Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Zimmer Biomet in the third quarter valued at $35,000. Kentucky Trust Co bought a new position in shares of Zimmer Biomet in the fourth quarter valued at $39,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of Zimmer Biomet by 146.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock valued at $51,000 after buying an additional 285 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Trading Up 2.4 %

Shares of Zimmer Biomet stock opened at $110.10 on Monday. The firm has a 50-day moving average of $105.83 and a 200-day moving average of $106.92. The stock has a market cap of $21.92 billion, a PE ratio of 24.74, a PEG ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $133.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.57%.

Wall Street Analyst Weigh In

ZBH has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their target price for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Stifel Nicolaus raised their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Truist Financial reissued a “hold” rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $124.15.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.95% of the stock is owned by insiders.

Zimmer Biomet 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.