Auto Owners Insurance Co Buys 1,987,362 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Auto Owners Insurance Co raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 8,892.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,009,712 shares of the medical equipment provider's stock after acquiring an additional 1,987,362 shares during the period. Auto Owners Insurance Co owned about 1.03% of Zimmer Biomet worth $180,713,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Main Management ETF Advisors LLC lifted its position in shares of Zimmer Biomet by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 10,962 shares of the medical equipment provider's stock worth $986,000 after buying an additional 112 shares in the last quarter. Boltwood Capital Management increased its position in shares of Zimmer Biomet by 3.9% during the fourth quarter. Boltwood Capital Management now owns 3,866 shares of the medical equipment provider's stock valued at $348,000 after acquiring an additional 144 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in Zimmer Biomet by 9.7% during the fourth quarter. Independence Bank of Kentucky now owns 1,633 shares of the medical equipment provider's stock worth $147,000 after acquiring an additional 145 shares during the period. LOM Asset Management Ltd boosted its position in Zimmer Biomet by 21.5% in the fourth quarter. LOM Asset Management Ltd now owns 830 shares of the medical equipment provider's stock worth $75,000 after purchasing an additional 147 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its stake in shares of Zimmer Biomet by 5.9% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 2,723 shares of the medical equipment provider's stock worth $268,000 after purchasing an additional 151 shares during the period. Institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ZBH shares. Wells Fargo & Company decreased their price objective on shares of Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, April 29th. Truist Financial reissued a "hold" rating and set a $92.00 target price (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Leerink Partners initiated coverage on shares of Zimmer Biomet in a report on Monday, April 13th. They issued a "hold" rating and a $101.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on Zimmer Biomet from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group set a $83.00 price objective on shares of Zimmer Biomet in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $102.70.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $88.13 on Friday. The firm has a market capitalization of $17.05 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 2.59 and a beta of 0.47. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. Zimmer Biomet Holdings, Inc. has a 12 month low of $79.12 and a 12 month high of $108.29. The business's 50-day moving average price is $87.24 and its 200-day moving average price is $90.13.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, beating the consensus estimate of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm earned $1.81 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.49 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet's dividend payout ratio is 24.94%.

Insider Activity

In other news, insider Sang Yi sold 5,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 27,251 shares in the company, valued at approximately $2,252,022.64. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.28% of the company's stock.

About Zimmer Biomet

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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