17,225 Shares in Zimmer Biomet Holdings, Inc. $ZBH Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia acquired 17,225 Zimmer Biomet shares in the second quarter, valued at approximately $1.48 million. Institutional investors own 88.89% of the company, with several other funds also increasing their positions.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $104.42. Recent targets range from $95 to $110.
• Zimmer Biomet reported quarterly adjusted earnings of $2.07 per share, exceeding estimates of $2.01, while revenue rose 4.8% year over year to $2.18 billion. The stock opened at $101.41, up 1.2%.

Bank of Nova Scotia acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,225 shares of the medical equipment provider's stock, valued at approximately $1,483,000.

Several other hedge funds have also added to or reduced their stakes in ZBH. Brighton Jones LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth $204,000. Sivia Capital Partners LLC purchased a new position in shares of Zimmer Biomet in the 2nd quarter worth about $232,000. United Bank boosted its stake in Zimmer Biomet by 10.7% in the 2nd quarter. United Bank now owns 11,896 shares of the medical equipment provider's stock worth $1,085,000 after purchasing an additional 1,153 shares in the last quarter. Federated Hermes Inc. boosted its stake in Zimmer Biomet by 129.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,132 shares of the medical equipment provider's stock worth $194,000 after purchasing an additional 1,202 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Zimmer Biomet by 93.6% during the 2nd quarter. Cerity Partners LLC now owns 76,785 shares of the medical equipment provider's stock valued at $7,004,000 after purchasing an additional 37,116 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ZBH has been the subject of a number of analyst reports. Robert W. Baird set a $104.00 price objective on shares of Zimmer Biomet in a research note on Thursday, August 6th. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, April 29th. BMO Capital Markets restated a "market perform" rating and issued a $96.00 price objective on shares of Zimmer Biomet in a report on Thursday, August 6th. Finally, Weiss Ratings raised Zimmer Biomet from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $104.42.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the insider owned 27,251 shares in the company, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.28% of the stock is currently owned by insiders.

Zimmer Biomet Stock Up 1.2%

NYSE ZBH opened at $101.41 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. Zimmer Biomet Holdings, Inc. has a 52 week low of $79.12 and a 52 week high of $107.85. The company has a market capitalization of $19.34 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.72 and a beta of 0.45. The stock's 50-day moving average price is $93.40 and its 200-day moving average price is $91.31.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.06. Zimmer Biomet had a return on equity of 13.12% and a net margin of 9.48%.The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The business's quarterly revenue was up 4.8% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.54 earnings per share for the current year.

Zimmer Biomet Company 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.

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