Nomura Asset Management Co. Ltd. Increases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Nomura Asset Management Co. Ltd. lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,434 shares of the medical equipment provider’s stock after purchasing an additional 468 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Zimmer Biomet were worth $6,384,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Providence Capital Advisors LLC increased its holdings in Zimmer Biomet by 5.3% in the fourth quarter. Providence Capital Advisors LLC now owns 55,600 shares of the medical equipment provider’s stock valued at $5,873,000 after buying an additional 2,800 shares in the last quarter. Norges Bank purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $216,223,000. Loomis Sayles & Co. L P acquired a new position in Zimmer Biomet in the 4th quarter worth about $64,000. NEOS Investment Management LLC boosted its position in Zimmer Biomet by 29.6% during the fourth quarter. NEOS Investment Management LLC now owns 10,891 shares of the medical equipment provider’s stock worth $1,150,000 after purchasing an additional 2,485 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in Zimmer Biomet by 21.5% in the fourth quarter. UniSuper Management Pty Ltd now owns 23,783 shares of the medical equipment provider’s stock valued at $2,512,000 after purchasing an additional 4,213 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is currently owned by corporate insiders.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $113.33 on Tuesday. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $131.61. The firm has a 50 day moving average of $107.26 and a two-hundred day moving average of $107.10. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $22.56 billion, a PE ratio of 25.47, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the prior year, the business posted $2.20 EPS. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet’s payout ratio is currently 21.57%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays decreased their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Raymond James cut their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Truist Financial reiterated a “hold” rating and issued a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and an average target price of $124.15.

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.