2,177,724 Shares in Zimmer Biomet Holdings, Inc. $ZBH Purchased by Bank of America Corp DE

Bank of America Corp DE bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,177,724 shares of the medical equipment provider's stock, valued at approximately $187,480,000. Bank of America Corp DE owned approximately 1.14% of Zimmer Biomet at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Bancorp Inc ME bought a new position in Zimmer Biomet during the 2nd quarter worth $172,000. Roberts Glore & Co. Inc. IL bought a new stake in shares of Zimmer Biomet during the second quarter valued at about $580,000. Jupiter Topco LLC acquired a new stake in Zimmer Biomet in the second quarter worth about $2,156,000. Hsbc Holdings PLC acquired a new position in Zimmer Biomet during the 2nd quarter valued at about $35,417,000. Finally, EFG International AG bought a new stake in shares of Zimmer Biomet during the 2nd quarter worth about $53,000. 88.89% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Chad Phipps sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $98.35, for a total transaction of $295,050.00. Following the completion of the sale, the insider directly owned 65,231 shares in the company, valued at approximately $6,415,468.85. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kevin R. Thornal sold 5,691 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $92.95, for a total transaction of $528,978.45. The disclosure for this sale is available in the SEC filing. 1.28% of the stock is currently owned by corporate insiders.

Zimmer Biomet Stock Down 2.5%

Shares of NYSE:ZBH opened at $94.33 on Friday. The firm has a 50 day simple moving average of $96.15 and a 200 day simple moving average of $91.38. Zimmer Biomet Holdings, Inc. has a 52 week low of $79.12 and a 52 week high of $106.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.94 and a current ratio of 1.69. The company has a market cap of $17.99 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.83 and a beta of 0.47.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.06. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The company's revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.07 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.54 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Zimmer Biomet's dividend payout ratio is currently 23.36%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ZBH. Truist Financial increased their price objective on shares of Zimmer Biomet from $92.00 to $106.00 and gave the company a "hold" rating in a report on Thursday, August 6th. Sanford C. Bernstein boosted their target price on Zimmer Biomet from $91.00 to $93.00 and gave the stock a "market perform" rating in a report on Thursday, August 6th. Citigroup cut their target price on Zimmer Biomet from $95.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, May 28th. BMO Capital Markets reiterated a "market perform" rating and set a $96.00 price target on shares of Zimmer Biomet in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $104.00 price objective on Zimmer Biomet in a research note on Thursday, August 6th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average price target of $103.00.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc NYSE: ZBH is a medical technology company that develops, manufactures and markets products designed to treat musculoskeletal conditions. Its portfolio includes orthopedic implants and related systems for hip, knee, shoulder and other joint replacements, as well as products used in sports medicine, extremity care and trauma procedures.

The company also provides robotic- and computer-assisted surgical technologies, digital solutions and other tools intended to support orthopedic procedures and patient care.

Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.