Canada Pension Plan Investment Board Invests $32.54 Million in Zimmer Biomet Holdings, Inc. $ZBH

Canada Pension Plan Investment Board acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 378,010 shares of the medical equipment provider's stock, valued at approximately $32,543,000. Canada Pension Plan Investment Board owned approximately 0.20% of Zimmer Biomet at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased 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 period. Morningstar Investment Management LLC boosted its holdings 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 worth $5,204,000 after purchasing an additional 40,610 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Zimmer Biomet by 257.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider's stock worth $3,091,000 after acquiring an additional 24,748 shares during the last quarter. Robertson Stephens Wealth Management LLC acquired a new stake in Zimmer Biomet in the fourth quarter worth $1,131,000. Finally, CIBC Asset Management Inc grew its position in shares of Zimmer Biomet by 67.6% during the fourth quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider's stock worth $4,183,000 after acquiring an additional 18,769 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on ZBH shares. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research report on Wednesday, August 5th. Weiss Ratings upgraded Zimmer Biomet from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Truist Financial lifted their price target on Zimmer Biomet from $92.00 to $106.00 and gave the stock a "hold" rating in a research note on Thursday, August 6th. Zacks Research upgraded Zimmer Biomet from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Citigroup reduced their price objective on shares of Zimmer Biomet from $95.00 to $93.00 and set a "neutral" rating for the company in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and an average price target of $104.42.

Zimmer Biomet Price Performance

Shares of ZBH opened at $101.10 on Friday. The business's 50-day moving average is $93.88 and its 200-day moving average is $91.45. 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 company has a market capitalization of $19.28 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 2.70 and a beta of 0.45. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $79.12 and a fifty-two week high of $106.88.

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, beating analysts' consensus estimates of $2.01 by $0.06. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $2.07 EPS. The company's revenue for the quarter was up 4.8% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. Equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.54 EPS for the current fiscal year.

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.

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