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

Sumitomo Mitsui Trust Group Inc. lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 481,966 shares of the medical equipment provider's stock after selling 5,117 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Zimmer Biomet worth $52,028,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider's stock worth $1,404,638,000 after buying an additional 1,215,935 shares during the period. American Century Companies Inc. increased its stake in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider's stock worth $701,521,000 after acquiring an additional 722,041 shares during the period. Van ECK Associates Corp raised its holdings in shares of Zimmer Biomet by 12.4% during the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider's stock worth $391,239,000 after purchasing an additional 411,163 shares during the last quarter. Victory Capital Management Inc. lifted its position in Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider's stock valued at $365,163,000 after purchasing an additional 211,637 shares during the period. Finally, Boston Partners grew its position in Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider's stock worth $437,413,000 after purchasing an additional 691,191 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Trading Up 3.4 %

Shares of ZBH stock traded up $3.69 on Friday, hitting $112.54. 2,599,995 shares of the stock traded hands, compared to its average volume of 1,534,878. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The stock has a market capitalization of $22.40 billion, a PE ratio of 21.40, a PEG ratio of 2.00 and a beta of 1.02. The firm's 50-day moving average price is $106.28 and its two-hundred day moving average price is $110.11. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts' consensus estimates of $1.74. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.85%. Zimmer Biomet's dividend payout ratio (DPR) is currently 18.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZBH. Oppenheimer lowered their target price on Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 15th. Evercore ISI lowered their price objective on Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 1st. UBS Group cut their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Finally, Truist Financial upped their price objective 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. Two 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $123.22.

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.