Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Zimmer Biomet by 10% during Q1, now owning 350,802 shares valued at $39.7 million.
• Analysts have varied opinions on Zimmer Biomet, with two sell ratings, nine hold ratings, and nine buy ratings, while the average price target is $111.44.
• Zimmer Biomet's quarterly earnings beat expectations with an EPS of $2.07, and the company reported a revenue increase of 7% year-over-year.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 10.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,802 shares of the medical equipment provider's stock after buying an additional 31,982 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Zimmer Biomet worth $39,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ZBH. Vanguard Group Inc. boosted its stake in Zimmer Biomet by 0.7% during the first quarter. Vanguard Group Inc. now owns 23,052,925 shares of the medical equipment provider's stock valued at $2,609,130,000 after buying an additional 166,763 shares during the period. Dodge & Cox boosted its position in shares of Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after acquiring an additional 2,044,645 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Zimmer Biomet by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider's stock worth $1,559,147,000 after purchasing an additional 176,337 shares in the last quarter. Northern Trust Corp increased its position in shares of Zimmer Biomet by 7.6% in the fourth quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider's stock worth $250,367,000 after purchasing an additional 167,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Zimmer Biomet by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,000,838 shares of the medical equipment provider's stock worth $211,348,000 after purchasing an additional 126,151 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada upped their target price on shares of Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. UBS Group upped their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research report on Friday. Raymond James Financial upped their target price on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, The Goldman Sachs Group cut their target price on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and an average target price of $111.44.

Zimmer Biomet Trading Up 0.9%

Shares of Zimmer Biomet stock traded up $0.93 during trading on Wednesday, reaching $102.75. 78,603 shares of the stock were exchanged, compared to its average volume of 2,081,180. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. The stock's fifty day moving average is $93.71 and its 200 day moving average is $99.59. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71.

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

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's dividend payout ratio is presently 23.36%.

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.