Sompo Asset Management Co. Ltd. Sells 250 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sompo Asset Management Co. Ltd. decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.3% during the third quarter, Holdings Channel.com reports. The firm owned 3,710 shares of the medical equipment provider’s stock after selling 250 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Zimmer Biomet were worth $400,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. BLB&B Advisors LLC raised its stake in shares of Zimmer Biomet by 2.1% in the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after acquiring an additional 100 shares during the period. FWG Holdings LLC raised its stake in shares of Zimmer Biomet by 2.9% in the third quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after acquiring an additional 101 shares during the period. Financial Advocates Investment Management raised its stake in shares of Zimmer Biomet by 3.5% in the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock valued at $330,000 after acquiring an additional 103 shares during the period. M&R Capital Management Inc. raised its stake in shares of Zimmer Biomet by 14.1% in the third quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock valued at $92,000 after acquiring an additional 105 shares during the period. Finally, Mill Creek Capital Advisors LLC raised its stake in shares of Zimmer Biomet by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $110.22 on Monday. 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 firm has a market cap of $21.94 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02. The company has a 50 day moving average price of $106.79 and a 200-day moving average price of $109.62. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90.

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

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ZBH shares. Truist Financial increased their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. BTIG Research reduced their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Canaccord Genuity Group reduced their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $123.22.

Zimmer Biomet 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.