Mirae Asset Global Investments Co. Ltd. Acquires 2,785 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 12.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,941 shares of the medical equipment provider's stock after acquiring an additional 2,785 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Zimmer Biomet were worth $2,800,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $29,000. Menard Financial Group LLC bought a new stake in Zimmer Biomet in the 4th quarter valued at about $30,000. Accredited Wealth Management LLC acquired a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $36,000. OFI Invest Asset Management bought a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $40,000. Finally, FNY Investment Advisers LLC increased its stake in Zimmer Biomet by 90.5% during the 1st quarter. FNY Investment Advisers LLC now owns 400 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ZBH. Raymond James Financial reduced their target price on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird reduced their price objective on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group dropped their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Royal Bank Of Canada reduced their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Finally, Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $111.33.

Zimmer Biomet Price Performance

ZBH traded up $0.17 on Friday, reaching $93.67. The stock had a trading volume of 927,032 shares, compared to its average volume of 1,811,399. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The firm has a 50-day moving average of $94.04 and a 200-day moving average of $101.76.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The firm's revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 1.02%. Zimmer Biomet's dividend payout ratio is 21.24%.

Insider Buying and Selling

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.39% of the company's stock.

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.