Sompo Asset Management Co. Ltd. Sells 250 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sompo Asset Management Co. Ltd. cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,710 shares of the medical equipment provider’s stock after selling 250 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Zimmer Biomet were worth $400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet in the 3rd quarter worth approximately $28,000. Bangor Savings Bank purchased a new stake in Zimmer Biomet in the 3rd quarter worth approximately $31,000. Family Firm Inc. purchased a new stake in Zimmer Biomet in the 2nd quarter worth approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Zimmer Biomet in the 2nd quarter worth approximately $43,000. Finally, Ridgewood Investments LLC purchased a new stake in Zimmer Biomet in the 2nd quarter worth approximately $43,000. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Trading Up 1.7 %

Shares of NYSE ZBH opened at $110.22 on Monday. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The stock has a market cap of $21.94 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02. The firm has a 50-day moving average of $106.79 and a 200 day moving average of $109.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company posted $1.65 EPS. Zimmer Biomet’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Oppenheimer lowered their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Evercore ISI lowered their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. BTIG Research lowered their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.22.

Zimmer Biomet 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.