Dai ichi Life Insurance Company Ltd Buys 434 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Dai ichi Life Insurance Company Ltd increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,054 shares of the medical equipment provider’s stock after purchasing an additional 434 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Zimmer Biomet were worth $657,000 at the end of the most recent reporting period.

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

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $107.38 on Tuesday. The stock’s fifty day moving average is $109.92 and its 200 day moving average is $115.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $133.90. The stock has a market cap of $22.09 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. Zimmer Biomet’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 EPS. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Analyst Ratings Changes

Several analysts have recently commented on ZBH shares. The Goldman Sachs Group started coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective for the company. Piper Sandler downgraded Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $140.00 to $115.00 in a report on Monday, July 1st. Truist Financial restated a “hold” rating and set a $112.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a research note on Friday. Robert W. Baird dropped their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Raymond James decreased their price objective on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.17.

About Zimmer Biomet

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.