Ameriprise Financial Inc. Purchases 3,208,596 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Ameriprise Financial Inc. significantly increased its stake in Zimmer Biomet Holdings, purchasing an additional 3,208,596 shares, raising its ownership by 236% to own 4,568,287 shares valued at approximately $517 million.
• Zimmer Biomet reported a quarterly earnings per share of $2.07, exceeding analyst expectations of $1.98, with revenue rising 7% year-over-year to $2.08 billion.
• The company recently announced a quarterly dividend of $0.24 per share, resulting in an annualized dividend yield of 0.9% and a payout ratio of 23.36%.

Ameriprise Financial Inc. raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 236.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,568,287 shares of the medical equipment provider's stock after buying an additional 3,208,596 shares during the quarter. Ameriprise Financial Inc. owned about 2.31% of Zimmer Biomet worth $517,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ZBH. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet in the first quarter valued at $29,000. Menard Financial Group LLC bought a new stake in shares of Zimmer Biomet during the fourth quarter worth $30,000. Washington Trust Advisors Inc. bought a new stake in shares of Zimmer Biomet in the first quarter valued at about $30,000. Columbia River Financial Group LLC purchased a new stake in shares of Zimmer Biomet during the first quarter worth about $30,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Zimmer Biomet during the first quarter worth about $35,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

ZBH stock opened at $104.3440 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The firm has a market capitalization of $20.67 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.08 and a beta of 0.68. The business's 50-day moving average is $95.19 and its two-hundred day moving average is $99.32.

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

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is 23.36%.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 trade represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Evercore ISI lowered their price target on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a report on Tuesday, July 8th. UBS Group increased their price target on Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada increased their price target on Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Zimmer Biomet has an average rating of "Hold" and an average target price of $111.44.

Zimmer Biomet Company Profile

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.

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