Resona Asset Management Co. Ltd. Invests $6.52 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Resona Asset Management Co. Ltd. purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 61,584 shares of the medical equipment provider's stock, valued at approximately $6,516,000.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in 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 worth $524,942,000 after purchasing an additional 125,852 shares during the period. Van ECK Associates Corp boosted its position in shares of Zimmer Biomet by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock worth $417,814,000 after purchasing an additional 218,688 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after buying an additional 2,796,372 shares during the period. Norges Bank bought a new stake in Zimmer Biomet in the 4th quarter valued at about $216,223,000. Finally, Equity Investment Corp raised its stake in Zimmer Biomet by 57.2% during the 4th quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider's stock worth $107,855,000 after buying an additional 371,653 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ZBH. Truist Financial restated a "hold" rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Barclays decreased their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. Stifel Nicolaus raised their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Royal Bank of Canada decreased their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $124.15.

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Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Performance

ZBH stock traded up $0.04 during mid-day trading on Friday, hitting $102.30. The company had a trading volume of 2,275,065 shares, compared to its average volume of 1,631,435. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $127.32. The stock's fifty day moving average price is $106.31 and its two-hundred day moving average price is $107.03. The firm has a market cap of $20.36 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 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 period in the prior year, the business earned $2.20 EPS. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.57%.

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.