Bank of New York Mellon Corp Takes Position in Zimmer Biomet Holdings, Inc. $ZBH

Bank of New York Mellon Corp purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,113,025 shares of the medical equipment provider's stock, valued at approximately $95,820,000. Bank of New York Mellon Corp owned about 0.58% of Zimmer Biomet at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ZBH. Main Management ETF Advisors LLC increased its stake in 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 valued at $986,000 after buying an additional 112 shares during the period. Citizens National Bank Trust Department increased its stake in shares of Zimmer Biomet by 17.6% during the first quarter. Citizens National Bank Trust Department now owns 941 shares of the medical equipment provider's stock valued at $85,000 after acquiring an additional 141 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Zimmer Biomet by 0.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 20,363 shares of the medical equipment provider's stock worth $1,831,000 after purchasing an additional 152 shares in the last quarter. TD Private Client Wealth LLC lifted its position in Zimmer Biomet by 15.3% in the fourth quarter. TD Private Client Wealth LLC now owns 1,152 shares of the medical equipment provider's stock worth $104,000 after purchasing an additional 153 shares during the period. Finally, Leonteq Securities AG lifted its position in Zimmer Biomet by 5.3% in the first quarter. Leonteq Securities AG now owns 3,062 shares of the medical equipment provider's stock worth $277,000 after purchasing an additional 153 shares during the period. 88.89% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the insider owned 27,251 shares of the company's stock, valued at $2,252,022.64. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.28% of the company's stock.

Analysts Set New Price Targets

ZBH has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their target price on Zimmer Biomet from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada lifted their price objective on shares of Zimmer Biomet from $101.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Barclays dropped their target price on shares of Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating on the stock in a report on Wednesday, April 29th. Canaccord Genuity Group raised their target price on shares of Zimmer Biomet from $83.00 to $100.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Zimmer Biomet from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $104.42.

Zimmer Biomet Stock Down 0.1%

ZBH opened at $100.89 on Tuesday. The business has a 50 day moving average of $92.90 and a 200-day moving average of $91.14. The stock has a market capitalization of $19.24 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 2.75 and a beta of 0.45. The company has a current ratio of 1.69, a quick ratio of 0.94 and a debt-to-equity ratio of 0.50. Zimmer Biomet Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $108.29.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share (EPS) 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 business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the firm posted $2.07 EPS. Zimmer Biomet'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. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.54 earnings per share for the current year.

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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