Daiwa Securities Group Inc. Acquires 2,698 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Daiwa Securities Group Inc. boosted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,515 shares of the medical equipment provider’s stock after purchasing an additional 2,698 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Zimmer Biomet were worth $2,552,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position 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 valued at $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. Primecap Management Co. CA increased its holdings in Zimmer Biomet by 10.5% in the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after acquiring an additional 484,151 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Zimmer Biomet by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after purchasing an additional 211,637 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Zimmer Biomet by 5.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after purchasing an additional 167,038 shares during the last quarter. Finally, Boston Partners grew its position in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after purchasing an additional 691,191 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

ZBH stock opened at $106.26 on Friday. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.92 and a beta of 1.02. The business’s fifty day simple moving average is $109.90 and its two-hundred day simple moving average is $116.16. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 EPS. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of research reports. Truist Financial reissued a “hold” rating and set a $112.00 price target (down from $117.00) on shares of Zimmer Biomet in a research note on Friday. Robert W. Baird lowered their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. TD Cowen reduced their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Evercore ISI reiterated an “in-line” rating and set a $113.00 price objective on shares of Zimmer Biomet in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 target price on the stock. Two investment 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. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $125.44.

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.