Meiji Yasuda Asset Management Co Ltd. cut its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 50.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,945 shares of the medical equipment provider’s stock after selling 3,945 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Zimmer Biomet were worth $504,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc grew its holdings in shares of Zimmer Biomet by 1.6% in the third quarter. Vanguard Group Inc now owns 14,511,433 shares of the medical equipment provider’s stock worth $1,907,818,000 after purchasing an additional 228,894 shares during the last quarter. Chicago Equity Partners LLC bought a new position in shares of Zimmer Biomet in the fourth quarter worth about $557,000. Daiwa Securities Group Inc. grew its holdings in shares of Zimmer Biomet by 9.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,085 shares of the medical equipment provider’s stock worth $839,000 after purchasing an additional 672 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Zimmer Biomet by 3.2% in the fourth quarter. Victory Capital Management Inc. now owns 475,264 shares of the medical equipment provider’s stock worth $49,294,000 after purchasing an additional 14,518 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of Zimmer Biomet by 24.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,819 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 546 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.
ZBH has been the topic of a number of research analyst reports. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Friday, April 26th. Cantor Fitzgerald set a $135.00 price target on shares of Zimmer Biomet and gave the stock a “buy” rating in a report on Friday, April 26th. Sanford C. Bernstein upgraded shares of Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price target on the stock in a report on Tuesday. Evercore ISI upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Monday, April 8th. Finally, Morgan Stanley upped their price target on shares of Zimmer Biomet from $132.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $131.41.
In other Zimmer Biomet news, insider Sang Yi sold 426 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $114.88, for a total transaction of $48,938.88. Following the completion of the sale, the insider now directly owns 1,457 shares of the company’s stock, valued at $167,380.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.
NYSE:ZBH opened at $117.45 on Friday. Zimmer Biomet Holdings Inc has a 1-year low of $96.99 and a 1-year high of $134.55. The stock has a market capitalization of $24.53 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 2.21 and a beta of 1.17. The company has a quick ratio of 0.97, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, April 26th. The medical equipment provider reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.01. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Zimmer Biomet had a negative net margin of 3.90% and a positive return on equity of 13.24%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.91 earnings per share. Analysts predict that Zimmer Biomet Holdings Inc will post 7.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, June 27th. Zimmer Biomet’s payout ratio is 12.57%.
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Zimmer Biomet Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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