Zimmer Biomet Holdings, Inc. $ZBH Stock Position Lowered by Bridger Management LLC

Key Points

• Bridger Management LLC reduced its stake in Zimmer Biomet Holdings, Inc. by 31.1%, selling 28,175 shares and retaining 62,363 shares, which now accounts for 3.5% of its portfolio.
• After reporting earnings of $2.07 EPS, Zimmer Biomet saw a 7.0% increase in revenue year-over-year with a total revenue of $2.08 billion.
• The company announced a quarterly dividend of $0.24 per share, with an ex-dividend date set for September 30th, representing an annual yield of 0.9%.

Bridger Management LLC reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 31.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,363 shares of the medical equipment provider's stock after selling 28,175 shares during the quarter. Zimmer Biomet accounts for approximately 3.5% of Bridger Management LLC's holdings, making the stock its 12th largest holding. Bridger Management LLC's holdings in Zimmer Biomet were worth $7,058,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ZBH. Ameriprise Financial Inc. raised its holdings in shares of Zimmer Biomet by 236.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock valued at $517,039,000 after buying an additional 3,208,596 shares during the period. JPMorgan Chase & Co. grew its stake in Zimmer Biomet by 251.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock valued at $235,571,000 after purchasing an additional 1,488,918 shares in the last quarter. Nuveen LLC acquired a new stake in Zimmer Biomet during the 1st quarter valued at approximately $155,891,000. Nuveen Asset Management LLC grew its stake in Zimmer Biomet by 191.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after purchasing an additional 913,310 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Zimmer Biomet during the 1st quarter valued at approximately $101,294,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

ZBH stock traded up $0.83 during trading on Friday, reaching $105.59. 1,168,434 shares of the company's stock were exchanged, compared to its average volume of 1,287,856. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $114.72. The company's fifty day moving average price is $98.42 and its 200-day moving average price is $99.61. The firm has a market cap of $20.92 billion, a PE ratio of 25.69, a P/E/G ratio of 2.08 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The firm'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. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Zimmer Biomet's payout ratio is 23.36%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 20,424 shares in the company, valued at approximately $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZBH. UBS Group raised their price objective on Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research note on Friday, August 8th. Canaccord Genuity Group decreased their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Royal Bank Of Canada boosted their price target on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Roth Capital reiterated a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Finally, Raymond James Financial boosted their price target on Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $111.00.

About Zimmer Biomet

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.