Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,088 shares of the medical equipment provider’s stock after acquiring an additional 36,514 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Zimmer Biomet worth $32,479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Primecap Management Co. CA raised its position in shares of Zimmer Biomet by 10.5% during the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after acquiring an additional 484,151 shares in the last quarter. Victory Capital Management Inc. increased its position in Zimmer Biomet by 3.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock worth $389,355,000 after buying an additional 118,839 shares during the period. Van ECK Associates Corp increased its position in Zimmer Biomet by 11.3% in the first quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock worth $416,866,000 after buying an additional 320,002 shares during the period. Allspring Global Investments Holdings LLC increased its position in Zimmer Biomet by 16.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock worth $335,895,000 after buying an additional 386,019 shares during the period. Finally, Norges Bank acquired a new stake in Zimmer Biomet in the fourth quarter worth $266,896,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on ZBH. Citigroup dropped their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group began coverage on Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Tuesday, May 21st. Finally, Truist Financial decreased their price target on Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $129.53.

Zimmer Biomet Price Performance

ZBH stock traded up $0.34 during trading hours on Thursday, hitting $111.39. 2,191,392 shares of the stock traded hands, compared to its average volume of 1,502,228. The stock has a 50-day simple moving average of $111.84 and a 200 day simple moving average of $120.04. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $143.24. The company has a market cap of $22.92 billion, a P/E ratio of 24.04, a P/E/G ratio of 1.93 and a beta of 1.01. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business posted $1.89 earnings per share. Zimmer Biomet’s revenue was up 3.2% compared to the same quarter last year. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is 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.