Tokio Marine Asset Management Co. Ltd. Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Tokio Marine Asset Management Co. Ltd. lowered its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBHFree Report) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,152 shares of the medical equipment provider’s stock after selling 423 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Zimmer Biomet were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet during the fourth quarter valued at $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Zimmer Biomet during the fourth quarter valued at $30,000. Naples Money Management LLC purchased a new stake in Zimmer Biomet during the fourth quarter valued at $35,000. Activest Wealth Management increased its position in Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Zimmer Biomet by 48.4% during the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $108.01 on Monday. The stock has a 50 day moving average of $113.91 and a 200 day moving average of $120.78. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $144.13. The firm has a market cap of $22.22 billion, a PE ratio of 23.38, a PEG ratio of 1.94 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:ZBHGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for 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. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet’s payout ratio is 20.78%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ZBH shares. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Barclays cut their price target on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Citigroup boosted their price target on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target for the company. Finally, Truist Financial cut their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.76.

Check Out Our Latest Research Report on Zimmer Biomet

Zimmer Biomet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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