Today: The Sumitomo Mitsui Asset Management Company LTD Acquires 1,007 Shares of Zimmer Biomet Holdings Inc. (ZBH)

The Sumitomo Mitsui Asset Management Company LTD Acquires 1,007 Shares of Zimmer Biomet Holdings Inc. (ZBH)

Sumitomo Mitsui Asset Management Company LTD increased its position in Zimmer Biomet Holdings Inc. (NYSE:ZBH) by 7.2% during the second quarter, Holdings Channel reports. The fund owned 14,924 shares of the company’s stock after buying an additional 1,007 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Zimmer Biomet Holdings were worth $1,796,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Park Avenue Institutional Advisers LLC boosted its stake in shares of Zimmer Biomet Holdings by 1.2% in the first quarter. Park Avenue Institutional Advisers LLC now owns 1,128 shares of the company’s stock worth $120,000 after buying an additional 13 shares during the last quarter. Regent Investment Management LLC bought a new stake in shares of Zimmer Biomet Holdings during the second quarter worth about $217,000. Checchi Capital Advisers LLC boosted its stake in shares of Zimmer Biomet Holdings by 3.7% in the second quarter. Checchi Capital Advisers LLC now owns 1,832 shares of the company’s stock worth $221,000 after buying an additional 66 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Zimmer Biomet Holdings during the second quarter worth about $238,000. Finally, FirstMerit Bank N A Trustee bought a new stake in shares of Zimmer Biomet Holdings during the second quarter worth about $247,000. 88.32% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Holdings Inc. (NYSE:ZBH) traded down 0.42% during trading on Monday, reaching $126.62. The company had a trading volume of 741,378 shares. The firm’s 50 day moving average price is $128.07 and its 200 day moving average price is $122.10. The firm has a market capitalization of $25.33 billion, a PE ratio of 115.63 and a beta of 0.95. Zimmer Biomet Holdings Inc. has a 12-month low of $88.27 and a 12-month high of $133.21.

Zimmer Biomet Holdings (NYSE:ZBH) last released its earnings results on Thursday, July 28th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. The firm earned $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Zimmer Biomet Holdings had a return on equity of 16.12% and a net margin of 1.68%. The company’s revenue was up 65.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. Analysts anticipate that Zimmer Biomet Holdings Inc. will post $7.97 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 23rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.76%. Zimmer Biomet Holdings’s payout ratio is 157.38%.

ZBH has been the subject of several research reports. Piper Jaffray Cos. reissued an “overweight” rating and issued a $125.00 price objective on shares of Zimmer Biomet Holdings in a research report on Tuesday, June 21st. Jefferies Group reissued a “buy” rating and issued a $150.00 price objective on shares of Zimmer Biomet Holdings in a research report on Monday, August 8th. Argus reissued a “buy” rating and issued a $140.00 price objective on shares of Zimmer Biomet Holdings in a research report on Thursday, September 22nd. Barclays PLC increased their price objective on Zimmer Biomet Holdings from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. Finally, RBC Capital Markets set a $143.00 price objective on Zimmer Biomet Holdings and gave the company a “buy” rating in a research report on Wednesday, September 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $133.57.

In other news, insider David A. Jr. Nolan sold 25,255 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $130.77, for a total transaction of $3,302,596.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel E. Williamson sold 2,716 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $129.96, for a total value of $352,971.36. Following the sale, the insider now owns 2,000 shares of the company’s stock, valued at $259,920. The disclosure for this sale can be found here. Insiders own 1.22% of the company’s stock.

Zimmer Biomet Holdings Company Profile

Zimmer Biomet Holdings, Inc, formerly Zimmer Holdings, Inc, is engaged designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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