3,520 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Bought by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the third quarter, Holdings Channel reports. The fund acquired 3,520 shares of the medical equipment provider’s stock, valued at approximately $380,000.

Other large investors have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in Zimmer Biomet in the 1st quarter worth approximately $31,000. J.Safra Asset Management Corp increased its stake in shares of Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares during the period. Bangor Savings Bank bought a new stake in Zimmer Biomet during the 3rd quarter valued at $31,000. Family Firm Inc. purchased a new stake in Zimmer Biomet during the 2nd quarter valued at $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Zimmer Biomet in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

ZBH traded up $1.50 during midday trading on Monday, hitting $103.85. 128,040 shares of the company traded hands, compared to its average volume of 1,468,018. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average is $107.61 and its 200 day moving average is $111.35. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The firm has a market capitalization of $21.36 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued 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. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.92%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZBH. Raymond James lowered their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Oppenheimer dropped their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $140.00 to $115.00 in a research note on Monday, July 1st. BTIG Research cut their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, TD Cowen reduced their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.94.

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.