Sumitomo Mitsui Trust Group Inc. Trims Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 481,966 shares of the medical equipment provider’s stock after selling 5,117 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Zimmer Biomet were worth $52,028,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. M&G Plc purchased a new stake in shares of Zimmer Biomet during the first quarter worth about $7,397,000. Gradient Investments LLC boosted its position in shares of Zimmer Biomet by 17.3% in the second quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock worth $14,147,000 after acquiring an additional 19,224 shares during the last quarter. National Pension Service boosted its position in shares of Zimmer Biomet by 3.8% in the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after acquiring an additional 13,612 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Zimmer Biomet by 7.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock valued at $30,265,000 after buying an additional 15,548 shares in the last quarter. Finally, Swedbank AB acquired a new position in Zimmer Biomet during the first quarter valued at approximately $2,740,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZBH. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Raymond James reduced their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada boosted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Truist Financial boosted their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, TD Cowen reduced their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Stock Up 3.4 %

ZBH stock opened at $112.54 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The firm has a fifty day moving average price of $106.13 and a two-hundred day moving average price of $110.18. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.00 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 18.25%.

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.