Sumitomo Mitsui DS Asset Management Company Ltd Has $2.40 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,230 shares of the medical equipment provider’s stock after purchasing an additional 337 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zimmer Biomet were worth $2,400,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $1,335,000. B. Riley Wealth Advisors Inc. boosted its position in Zimmer Biomet by 4.3% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,414 shares of the medical equipment provider’s stock worth $416,000 after purchasing an additional 141 shares during the period. Ballentine Partners LLC boosted its position in Zimmer Biomet by 2.6% during the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 100 shares during the period. Global Assets Advisory LLC bought a new position in shares of Zimmer Biomet in the first quarter valued at about $1,712,000. Finally, First Bancorp Inc ME lifted its stake in shares of Zimmer Biomet by 5.3% during the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after buying an additional 100 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZBH. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $140.00 to $115.00 in a report on Monday, July 1st. TD Cowen dropped their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. Canaccord Genuity Group decreased their price objective on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, September 10th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Tuesday, September 17th. Finally, BTIG Research decreased their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $123.94.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $105.20 on Tuesday. 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 52 week low of $101.47 and a 52 week high of $133.90. The stock has a market capitalization of $21.64 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The stock has a fifty day moving average of $108.07 and a 200-day moving average of $112.03.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Zimmer Biomet’s payout ratio is presently 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.