Blackhill Capital Inc. Has $3.78 Million Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Blackhill Capital cut its Zimmer Biomet stake by 21.9% in the fourth quarter, leaving it with 42,079 shares valued at about $3.78 million.
• Zimmer Biomet reported strong quarterly results, with EPS of $2.09 beating estimates and revenue of $2.09 billion topping expectations; revenue also rose 9.3% year over year.
• Analyst sentiment remains mixed: the stock has a consensus rating of Hold with an average target price of $102.70, while an insider recently sold 5,000 shares at $82.64.

Blackhill Capital Inc. reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,079 shares of the medical equipment provider's stock after selling 11,771 shares during the quarter. Zimmer Biomet accounts for 0.2% of Blackhill Capital Inc.'s investment portfolio, making the stock its 21st biggest holding. Blackhill Capital Inc.'s holdings in Zimmer Biomet were worth $3,784,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ZBH. M&T Bank Corp raised its stake in Zimmer Biomet by 15,705.6% during the 4th quarter. M&T Bank Corp now owns 3,571,595 shares of the medical equipment provider's stock valued at $321,158,000 after purchasing an additional 3,548,998 shares during the period. Norges Bank acquired a new stake in Zimmer Biomet during the 4th quarter valued at $221,234,000. Franklin Resources Inc. raised its stake in Zimmer Biomet by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider's stock valued at $601,204,000 after purchasing an additional 2,017,857 shares during the period. Dodge & Cox raised its stake in Zimmer Biomet by 5.1% during the 3rd quarter. Dodge & Cox now owns 23,216,173 shares of the medical equipment provider's stock valued at $2,286,793,000 after purchasing an additional 1,118,710 shares during the period. Finally, AQR Capital Management LLC raised its stake in Zimmer Biomet by 276.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider's stock valued at $118,627,000 after purchasing an additional 955,284 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on ZBH shares. Citizens Jmp cut their target price on shares of Zimmer Biomet from $120.00 to $105.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 29th. Truist Financial reaffirmed a "hold" rating and issued a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Stifel Nicolaus dropped their price target on shares of Zimmer Biomet from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Zimmer Biomet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised shares of Zimmer Biomet from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $102.70.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of the company'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 sale, the insider directly owned 27,251 shares in the company, valued at approximately $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.28% of the company's stock.

Zimmer Biomet Trading Up 1.6%

NYSE ZBH opened at $88.54 on Friday. Zimmer Biomet Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $108.29. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $17.13 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. The firm's fifty day simple moving average is $87.56 and its 200-day simple moving average is $90.43.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.23. The firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. Zimmer Biomet's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.49 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Zimmer Biomet Company Profile

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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