Meiji Yasuda Asset Management Co Ltd. Reduces Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Meiji Yasuda Asset Management Co Ltd. trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,005 shares of the medical equipment provider’s stock after selling 320 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Zimmer Biomet were worth $317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZBH. Roman Butler Fullerton & Co. bought a new stake in Zimmer Biomet in the fourth quarter worth $473,000. Geode Capital Management LLC raised its stake in shares of Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after acquiring an additional 125,852 shares during the period. M&T Bank Corp lifted its holdings in shares of Zimmer Biomet by 48.4% in the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after acquiring an additional 8,709 shares during the last quarter. KLCM Advisors Inc. purchased a new position in shares of Zimmer Biomet during the 4th quarter worth about $7,825,000. Finally, Peddock Capital Advisors LLC bought a new position in Zimmer Biomet during the 4th quarter valued at about $654,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ZBH shares. Raymond James dropped their target price on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Stifel Nicolaus boosted their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Truist Financial reiterated a “hold” rating and set a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Finally, JMP Securities restated a “market outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company 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 capitalization of $22.34 billion, a PE ratio of 25.22, a P/E/G ratio of 1.95 and a beta of 1.04. The company has a 50-day simple moving average of $107.18 and a two-hundred day simple moving average of $107.01. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $131.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter last year, the firm posted $2.20 earnings per share. Research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is 21.57%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.95% of the stock is owned by company insiders.

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.