Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stock Position Boosted by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 23.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 815 shares of the medical equipment provider’s stock after buying an additional 156 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Zimmer Biomet were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in Zimmer Biomet during the fourth quarter worth approximately $216,223,000. Sound Shore Management Inc. CT acquired a new position in shares of Zimmer Biomet during the 4th quarter valued at $81,447,000. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after buying an additional 577,320 shares in the last quarter. Equity Investment Corp lifted its holdings in shares of Zimmer Biomet by 57.2% in the fourth quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock valued at $107,855,000 after buying an additional 371,653 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after acquiring an additional 218,688 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ZBH shares. Truist Financial reissued a “hold” rating and issued a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Raymond James cut their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Barclays decreased their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $113.33 on Tuesday. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $131.61. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $107.26 and a 200 day simple moving average of $107.10.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business posted $2.20 earnings per share. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.57%.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.95% of the stock is owned by insiders.

About Zimmer Biomet

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.