Mitsubishi UFJ Asset Management Co. Ltd. Buys 22,992 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 399,826 shares of the medical equipment provider’s stock after purchasing an additional 22,992 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Zimmer Biomet were worth $39,383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ZBH. Key Financial Inc increased its stake in shares of Zimmer Biomet by 164.6% during the third quarter. Key Financial Inc now owns 262 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 163 shares during the period. Cullen Frost Bankers Inc. boosted its stake in Zimmer Biomet by 66.7% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 116 shares during the period. Root Financial Partners LLC acquired a new position in Zimmer Biomet in the 3rd quarter valued at $31,000. Cary Street Partners Investment Advisory LLC increased its position in Zimmer Biomet by 83.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 149 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of Zimmer Biomet during the third quarter worth $36,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH opened at $98.42 on Friday. The company’s 50 day simple moving average is $91.52 and its 200 day simple moving average is $95.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.98 and a quick ratio of 1.10. Zimmer Biomet Holdings, Inc. has a 1 year low of $84.59 and a 1 year high of $114.44. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 2.01 and a beta of 0.62.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Tuesday, February 10th. The medical equipment provider reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.04. Zimmer Biomet had a return on equity of 12.93% and a net margin of 8.56%.The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the business posted $2.31 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.300-8.450 EPS. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Zimmer Biomet’s payout ratio is currently 27.12%.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of recent research reports. Royal Bank Of Canada reduced their target price on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. UBS Group reiterated a “sell” rating and issued a $89.00 price objective on shares of Zimmer Biomet in a research note on Wednesday, February 11th. Evercore upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $94.00 to $120.00 in a research report on Monday, January 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Tuesday, February 10th. Finally, Sanford C. Bernstein lifted their price target on shares of Zimmer Biomet from $97.00 to $99.00 and gave the company a “market perform” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $106.20.

Zimmer Biomet Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.