BlackRock Inc. Makes New $1.34 Billion Investment in Zimmer Biomet Holdings, Inc. $ZBH

BlackRock Inc. bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,614,847 shares of the medical equipment provider's stock, valued at approximately $1,344,282,000. BlackRock Inc. owned approximately 8.07% of Zimmer Biomet at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ZBH. PNC Financial Services Group Inc. grew its stake in Zimmer Biomet by 9.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider's stock worth $14,495,000 after buying an additional 13,883 shares during the last quarter. Morningstar Investment Management LLC lifted its stake in Zimmer Biomet by 235.4% in the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider's stock valued at $5,204,000 after buying an additional 40,610 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Zimmer Biomet by 257.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider's stock valued at $3,091,000 after acquiring an additional 24,748 shares during the period. Robertson Stephens Wealth Management LLC acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth about $1,131,000. Finally, CIBC Asset Management Inc lifted its position in Zimmer Biomet by 67.6% in the 4th quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider's stock valued at $4,183,000 after purchasing an additional 18,769 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of Zimmer Biomet stock in a transaction on Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the transaction, the insider owned 27,251 shares in the company, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.28% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $99.10 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.94. The firm's 50 day moving average is $92.39 and its 200-day moving average is $90.93. Zimmer Biomet Holdings, Inc. has a 12-month low of $79.12 and a 12-month high of $108.29. The stock has a market capitalization of $18.90 billion, a P/E ratio of 24.11, a P/E/G ratio of 2.74 and a beta of 0.45.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.06. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.07 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ZBH shares. Canaccord Genuity Group boosted their price objective on Zimmer Biomet from $83.00 to $100.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Barclays cut their target price on Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 29th. Robert W. Baird set a $104.00 price target on Zimmer Biomet in a research note on Thursday, August 6th. Stifel Nicolaus raised their price target on Zimmer Biomet from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Zacks Research cut shares of Zimmer Biomet from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $104.42.

Zimmer Biomet 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source