AGF Management Ltd. Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

AGF Management Ltd. purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,585 shares of the medical equipment provider’s stock, valued at approximately $590,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthfront Advisers LLC boosted its holdings in Zimmer Biomet by 927.5% in the 4th quarter. Wealthfront Advisers LLC now owns 33,105 shares of the medical equipment provider’s stock worth $3,497,000 after buying an additional 29,883 shares during the period. Independent Advisor Alliance purchased a new position in shares of Zimmer Biomet in the fourth quarter valued at about $2,027,000. Daiwa Securities Group Inc. lifted its position in shares of Zimmer Biomet by 6.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,630 shares of the medical equipment provider’s stock valued at $2,813,000 after acquiring an additional 1,497 shares in the last quarter. FWG Holdings LLC grew its position in shares of Zimmer Biomet by 3.5% during the fourth quarter. FWG Holdings LLC now owns 3,715 shares of the medical equipment provider’s stock worth $402,000 after purchasing an additional 124 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in Zimmer Biomet during the 4th quarter valued at approximately $40,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Up 2.4 %

Shares of NYSE:ZBH opened at $110.10 on Friday. The firm has a market capitalization of $21.92 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The business has a 50 day simple moving average of $105.83 and a two-hundred day simple moving average of $107.03. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 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 period in the prior year, the firm posted $2.20 EPS. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Raymond James dropped their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada cut their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Barclays reduced 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 equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $124.15.

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.