Alyeska Investment Group L.P. Invests $101.29 Million in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Alyeska Investment Group L.P. has acquired a new stake in Zimmer Biomet Holdings, purchasing 894,980 shares valued at approximately $101.3 million, representing 0.45% ownership of the company.
• Several institutional investors have made significant changes to their positions in Zimmer Biomet during the first quarter, with 88.89% of the company's stock now owned by institutional investors and hedge funds.
• Zimmer Biomet reported better-than-expected earnings for the quarter, with $2.07 earnings per share, and announced a quarterly dividend of $0.24, set to be paid on October 31st.

Alyeska Investment Group L.P. bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 894,980 shares of the medical equipment provider's stock, valued at approximately $101,294,000. Alyeska Investment Group L.P. owned about 0.45% of Zimmer Biomet at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Garde Capital Inc. acquired a new stake in Zimmer Biomet during the first quarter valued at approximately $29,000. Washington Trust Advisors Inc. acquired a new stake in Zimmer Biomet during the first quarter valued at approximately $30,000. Columbia River Financial Group LLC acquired a new stake in Zimmer Biomet during the first quarter valued at approximately $30,000. Menard Financial Group LLC acquired a new stake in Zimmer Biomet during the fourth quarter valued at approximately $30,000. Finally, Accent Capital Management LLC acquired a new stake in Zimmer Biomet during the first quarter valued at approximately $35,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the insider owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ZBH shares. Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price target on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Canaccord Genuity Group reduced their price target on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research report on Monday, May 12th. UBS Group upped their price target on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Finally, Evercore ISI reduced their price target on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research report on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and an average price target of $111.00.

Zimmer Biomet Stock Up 0.8%

Zimmer Biomet stock traded up $0.83 during trading hours on Friday, hitting $105.59. The company had a trading volume of 1,168,434 shares, compared to its average volume of 1,287,856. The firm has a market capitalization of $20.92 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 2.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The firm's fifty day moving average is $98.42 and its 200-day moving average is $99.64. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $114.72.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Zimmer Biomet's dividend payout ratio is currently 23.36%.

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.