Mitsubishi UFJ Asset Management Co. Ltd. Buys 11,777 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 318,820 shares of the medical equipment provider’s stock after purchasing an additional 11,777 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Zimmer Biomet were worth $33,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $25,000. Dunhill Financial LLC raised its position in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Zimmer Biomet in the 3rd quarter valued at $35,000. Kentucky Trust Co bought a new position in Zimmer Biomet in the fourth quarter valued at about $39,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $40,000. Institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Barclays cut their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Truist Financial reaffirmed a “hold” rating and issued a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. JMP Securities reissued a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Raymond James lowered their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $112.21 on Friday. The company has a market cap of $22.34 billion, a P/E ratio of 25.22, a PEG ratio of 1.95 and a beta of 1.04. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $107.18 and a two-hundred day moving average price of $107.02. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $131.61.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the company earned $2.20 earnings per share. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

Insiders Place Their Bets

In other news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. This represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.95% of the company’s stock.

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.