Sumitomo Mitsui Trust Holdings Inc. Sells 52,239 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 495,240 shares of the medical equipment provider’s stock after selling 52,239 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of Zimmer Biomet worth $60,271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clear Street Markets LLC bought a new stake in Zimmer Biomet during the fourth quarter worth $27,000. Lazard Asset Management LLC grew its stake in shares of Zimmer Biomet by 70.5% in the 3rd quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 117 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Zimmer Biomet in the first quarter valued at about $35,000. Activest Wealth Management lifted its position in shares of Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. Finally, Peoples Bank KS purchased a new position in Zimmer Biomet during the third quarter worth about $48,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ZBH. Citigroup increased their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a report on Friday, February 9th. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. Canaccord Genuity Group reiterated a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a research note on Friday, February 23rd. Finally, Raymond James increased their price target on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $139.39.

Zimmer Biomet Trading Down 1.6 %

Shares of ZBH stock opened at $119.41 on Friday. The stock has a market capitalization of $24.53 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.23 and a beta of 1.01. The company’s fifty day simple moving average is $126.39 and its two-hundred day simple moving average is $119.10. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company posted $1.88 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.24 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 19.63%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is owned by corporate 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.