Kentucky Trust Co Takes Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kentucky Trust Co bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 365 shares of the medical equipment provider’s stock, valued at approximately $39,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares during the period. M&T Bank Corp raised its stake in Zimmer Biomet by 48.4% during the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after purchasing an additional 8,709 shares during the period. Peddock Capital Advisors LLC purchased a new position in Zimmer Biomet during the fourth quarter worth about $654,000. National Pension Service raised its stake in Zimmer Biomet by 3.8% during the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after purchasing an additional 13,612 shares during the period. Finally, River Global Investors LLP raised its stake in Zimmer Biomet by 31.3% during the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock worth $2,276,000 after purchasing an additional 5,030 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $98.98 on Thursday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $97.69 and a fifty-two week high of $133.90. The company has a 50 day moving average price of $106.91 and a 200 day moving average price of $107.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 1.91. The stock has a market capitalization of $19.70 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the prior year, the company earned $2.20 earnings per share. Equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.25 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.97%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ZBH shares. Royal Bank of Canada reduced their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Truist Financial reaffirmed a “hold” rating and set a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Raymond James dropped their price target on shares of 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, JMP Securities reiterated a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and an average target price of $124.15.

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.