MUFG Securities EMEA plc Decreases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• MUFG Securities EMEA plc significantly reduced its stake in Zimmer Biomet by selling 70,999 shares, resulting in an 88.7% decrease in their holdings to just 9,000 shares, valued at approximately $1,019,000.
• Several institutional investors have increased their stakes in Zimmer Biomet, including Dodge & Cox, which raised its position by 12.0%, now owning over 19 million shares worth about $2 billion.
• Zimmer Biomet reported earnings of $2.07 EPS for the most recent quarter, surpassing the consensus estimate, with revenues of $2.08 billion, marking a year-over-year increase of 7.0%.

MUFG Securities EMEA plc lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 88.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,000 shares of the medical equipment provider's stock after selling 70,999 shares during the period. MUFG Securities EMEA plc's holdings in Zimmer Biomet were worth $1,019,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Townsquare Capital LLC raised its position in shares of Zimmer Biomet by 7.4% in the 1st quarter. Townsquare Capital LLC now owns 3,833 shares of the medical equipment provider's stock worth $434,000 after acquiring an additional 265 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $48,000. Citigroup Inc. raised its position in shares of Zimmer Biomet by 47.8% in the 1st quarter. Citigroup Inc. now owns 195,308 shares of the medical equipment provider's stock worth $22,105,000 after acquiring an additional 63,125 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Zimmer Biomet by 10.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 350,802 shares of the medical equipment provider's stock worth $39,704,000 after acquiring an additional 31,982 shares in the last quarter. Finally, WealthPlan Investment Management LLC bought a new position in Zimmer Biomet during the 1st quarter valued at approximately $204,000. Institutional investors own 88.89% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ZBH shares. UBS Group set a $96.00 price objective on Zimmer Biomet and gave the company a "sell" rating in a research report on Friday, August 8th. Royal Bank Of Canada increased their target price on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Wells Fargo & Company cut their target price on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Roth Capital reiterated a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Finally, Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Zimmer Biomet presently has an average rating of "Hold" and a consensus target price of $111.44.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded up $1.12 during mid-day trading on Wednesday, reaching $102.94. The company's stock had a trading volume of 518,884 shares, compared to its average volume of 2,084,067. The firm has a market capitalization of $20.39 billion, a PE ratio of 25.01, a P/E/G ratio of 2.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The stock has a fifty day moving average of $93.71 and a two-hundred day moving average of $99.59. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.01 earnings per share. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is currently 23.36%.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider owned 20,424 shares in the company, valued at $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

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.