Mystic Asset Management Inc. Invests $287,000 in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mystic Asset Management Inc. acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,717 shares of the medical equipment provider’s stock, valued at approximately $287,000.

Other hedge funds have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in Zimmer Biomet in the 4th quarter valued at about $25,000. Dunhill Financial LLC increased its position in Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Brooklyn Investment Group bought a new stake in Zimmer Biomet in the 3rd quarter valued at about $35,000. Kentucky Trust Co bought a new stake in Zimmer Biomet in the 4th quarter valued at about $39,000. Finally, OFI Invest Asset Management bought a new stake in Zimmer Biomet in the 4th quarter valued at about $40,000. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $112.78 on Wednesday. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $133.90. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $106.18 and its 200 day simple moving average is $106.88. The company has a market cap of $22.45 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last posted 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 business earned $2.20 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. Zimmer Biomet’s payout ratio is 21.57%.

Analyst Ratings Changes

ZBH has been the subject of a number of research analyst reports. Barclays decreased their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Raymond James cut 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. 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 note on Tuesday, December 17th. Finally, JMP Securities reiterated a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $124.15.

Insiders Place Their Bets

In other news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the sale, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.95% 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.