Mitsubishi UFJ Trust & Banking Corp Sells 241 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 94,162 shares of the medical equipment provider’s stock after selling 241 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Zimmer Biomet were worth $9,946,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC boosted its holdings in Zimmer Biomet by 21.3% during the third quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock worth $257,000 after purchasing an additional 417 shares during the last quarter. FMR LLC lifted its position in shares of Zimmer Biomet by 27.6% during the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock worth $80,999,000 after buying an additional 162,384 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet in the 3rd quarter worth approximately $35,000. Townsquare Capital LLC bought a new position in shares of Zimmer Biomet in the third quarter valued at approximately $341,000. Finally, Glenmede Trust Co. NA increased its position in shares of Zimmer Biomet by 163.9% during the third quarter. Glenmede Trust Co. NA now owns 44,554 shares of the medical equipment provider’s stock valued at $4,810,000 after acquiring an additional 27,673 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the company’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 directly owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is currently owned by insiders.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $112.21 on Friday. The company’s 50 day simple moving average is $107.18 and its two-hundred day simple moving average is $107.02. The stock 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 debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. 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 posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $2.20 earnings per share. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on ZBH. Truist Financial restated a “hold” rating and issued a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Raymond James reduced their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Barclays lowered their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Two 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.com, Zimmer Biomet has a consensus rating of “Hold” and an average target price of $124.15.

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.