Mackenzie Financial Corp Has $7.52 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Mackenzie Financial Corp increased its holdings in Zimmer Biomet by 10.9%, owning 66,438 shares valued at approximately $7.52 million as of the latest SEC filing.
• ZBH reported an earnings per share (EPS) of $1.81 for the last quarter, exceeding analysts' expectations of $1.77, with a revenue of $1.91 billion.
• The company announced a quarterly dividend of $0.24 per share, with an annual yield of 1.0%, indicating a payout ratio of 21.24%.

Mackenzie Financial Corp boosted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 10.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,438 shares of the medical equipment provider's stock after buying an additional 6,547 shares during the quarter. Mackenzie Financial Corp's holdings in Zimmer Biomet were worth $7,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZBH. Brighton Jones LLC acquired a new position in Zimmer Biomet during the 4th quarter worth about $204,000. LPL Financial LLC lifted its holdings in Zimmer Biomet by 11.3% during the 4th quarter. LPL Financial LLC now owns 99,721 shares of the medical equipment provider's stock worth $10,534,000 after buying an additional 10,122 shares during the period. Alliancebernstein L.P. lifted its holdings in Zimmer Biomet by 7.5% during the 4th quarter. Alliancebernstein L.P. now owns 326,802 shares of the medical equipment provider's stock worth $34,520,000 after buying an additional 22,784 shares during the period. Summit Financial LLC acquired a new position in Zimmer Biomet during the 4th quarter worth about $204,000. Finally, National Bank of Canada FI lifted its holdings in Zimmer Biomet by 27.5% during the 4th quarter. National Bank of Canada FI now owns 263,462 shares of the medical equipment provider's stock worth $27,830,000 after buying an additional 56,797 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $91.67 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The firm has a market capitalization of $18.14 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.18 and a beta of 0.71. The business has a 50-day simple moving average of $93.21 and a 200 day simple moving average of $100.39. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company posted $1.94 EPS. The firm's revenue was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's payout ratio is currently 21.24%.

Wall Street Analyst Weigh In

Several brokerages have commented on ZBH. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. The Goldman Sachs Group dropped their price objective on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. JMP Securities dropped their price objective on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Finally, Wells Fargo & Company dropped their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $111.39.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.39% of the company's stock.

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.

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