Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.2% in the second quarter, Holdings Channel reports. The institutional investor owned 21,893 shares of the medical equipment provider’s stock after buying an additional 2,881 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zimmer Biomet were worth $2,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Asset Management Inc grew its holdings in Zimmer Biomet by 10.1% during the 4th quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after acquiring an additional 15,552 shares in the last quarter. Bank of Nova Scotia grew its stake in Zimmer Biomet by 499.0% in the fourth quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock worth $16,397,000 after purchasing an additional 112,237 shares in the last quarter. Speece Thorson Capital Group Inc. increased its holdings in Zimmer Biomet by 13.8% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock valued at $19,253,000 after buying an additional 19,144 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in Zimmer Biomet during the fourth quarter valued at approximately $14,530,000. Finally, M&G Plc bought a new position in Zimmer Biomet during the 1st quarter worth approximately $7,397,000. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, August 8th. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price on the stock. Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $115.00 in a report on Monday, July 1st. UBS Group dropped their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada decreased their target price on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $126.41.

Zimmer Biomet Stock Up 0.7 %

Shares of Zimmer Biomet stock opened at $115.47 on Friday. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $133.90. The company has a market capitalization of $23.76 billion, a P/E ratio of 24.99, a PEG ratio of 2.04 and a beta of 1.01. The business’s fifty day moving average price is $109.61 and its two-hundred day moving average price is $117.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.06 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.83%. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

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.