Tokio Marine Asset Management Co. Ltd. Sells 517 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Tokio Marine Asset Management Co. Ltd. trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.7% during the third quarter, Holdings Channel.com reports. The fund owned 5,443 shares of the medical equipment provider’s stock after selling 517 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Zimmer Biomet were worth $588,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Zimmer Biomet by 12.9% during the first 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 purchasing an additional 1,215,935 shares during the period. American Century Companies Inc. grew its position in Zimmer Biomet by 12.6% during 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 buying an additional 722,041 shares in the last quarter. Boston Partners increased its stake 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 acquiring an additional 691,191 shares during the period. Magnetar Financial LLC raised its holdings in Zimmer Biomet by 58.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after acquiring an additional 484,816 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after acquiring an additional 411,163 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 3.4 %

NYSE:ZBH opened at $112.54 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company has a market cap of $22.40 billion, a PE ratio of 21.40, a P/E/G ratio of 2.00 and a beta of 1.02. The firm’s 50 day simple moving average is $106.28 and its 200 day simple moving average is $110.11.

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

Zimmer Biomet Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank of Canada raised their price target on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Evercore ISI cut their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. TD Cowen decreased their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. reduced their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.22.

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.