CANADA LIFE ASSURANCE Co Purchases 15,548 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

CANADA LIFE ASSURANCE Co raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.3% in the first quarter, HoldingsChannel reports. The firm owned 229,233 shares of the medical equipment provider’s stock after acquiring an additional 15,548 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Zimmer Biomet were worth $30,265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. OLD Point Trust & Financial Services N A bought a new stake in Zimmer Biomet during the 4th quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Zimmer Biomet in the 4th quarter worth $30,000. J.Safra Asset Management Corp raised its position in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 235 shares in the last quarter. Naples Money Management LLC bought a new position in shares of Zimmer Biomet in the 4th quarter worth $35,000. Finally, Activest Wealth Management raised its position in shares of Zimmer Biomet by 410.4% in the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Performance

Zimmer Biomet stock traded up $0.81 during trading hours on Thursday, hitting $111.36. 866,296 shares of the stock traded hands, compared to its average volume of 1,489,635. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The firm’s 50 day moving average price is $110.83 and its 200-day moving average price is $119.68. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 1.98 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $142.54.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $1.89 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is 20.78%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ZBH shares. Evercore ISI reduced their price target on Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Truist Financial reduced their price target on Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Barclays reduced their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Finally, Morgan Stanley reduced their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $129.53.

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.