Franklin Resources Inc. Increases Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Franklin Resources Inc. grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 398.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,497,764 shares of the medical equipment provider’s stock after purchasing an additional 2,796,372 shares during the quarter. Franklin Resources Inc.’s holdings in Zimmer Biomet were worth $369,469,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at about $25,000. Dunhill Financial LLC grew its position in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Kentucky Trust Co acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $39,000. OFI Invest Asset Management purchased a new stake in Zimmer Biomet in the 4th quarter valued at $40,000. Finally, SRS Capital Advisors Inc. boosted its stake in Zimmer Biomet by 146.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock worth $51,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $113.33 on Tuesday. The business has a 50 day moving average price of $107.26 and a 200 day moving average price of $107.10. The company has a market capitalization of $22.56 billion, a P/E ratio of 25.47, a PEG 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 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 posted its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share 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 last year, the business earned $2.20 EPS. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

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 given a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ZBH shares. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 7th. Raymond James decreased 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. Stifel Nicolaus boosted their target price on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada decreased their price target on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.