King Wealth Management Group Makes New $1.63 Million Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

King Wealth Management Group bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,411 shares of the medical equipment provider’s stock, valued at approximately $1,628,000.

A number of other hedge funds also recently made changes to their positions in the business. Roman Butler Fullerton & Co. bought a new stake in Zimmer Biomet in the fourth quarter worth about $473,000. Geode Capital Management LLC raised its stake in Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after acquiring an additional 125,852 shares during the period. M&T Bank Corp lifted its holdings 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 valued at $2,884,000 after purchasing an additional 8,709 shares during the last quarter. KLCM Advisors Inc. purchased a new position in shares of Zimmer Biomet in the fourth quarter worth about $7,825,000. Finally, Peddock Capital Advisors LLC purchased a new position in shares of Zimmer Biomet in the fourth quarter worth about $654,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Price Performance

ZBH opened at $107.63 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $105.72 and its 200 day simple moving average is $107.06. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 24.19, 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 $133.90.

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

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Insider Buying and Selling

In related 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 value of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.95% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective 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. JMP Securities reiterated a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Raymond James decreased their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.