Zimmer Biomet Holdings, Inc. $ZBH Position Reduced by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board has reduced its stake in Zimmer Biomet Holdings by 25.4%, now holding 152,928 shares worth approximately $17.3 million.
• Zimmer Biomet reported $2.07 earnings per share for the recent quarter, exceeding estimates, with revenue increasing by 7.0% year-over-year to $2.08 billion.
• The company also announced a quarterly dividend of $0.24 per share, with a payment date scheduled for October 31st.

Canada Pension Plan Investment Board lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 25.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 152,928 shares of the medical equipment provider's stock after selling 52,088 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.08% of Zimmer Biomet worth $17,308,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZBH. Garde Capital Inc. purchased a new stake in Zimmer Biomet in the 1st quarter valued at approximately $29,000. Menard Financial Group LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter worth $30,000. Washington Trust Advisors Inc. purchased a new position in shares of Zimmer Biomet during the 1st quarter worth $30,000. Columbia River Financial Group LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter worth $30,000. Finally, Accent Capital Management LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analysts Set New Price Targets

ZBH has been the topic of a number of recent analyst reports. Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Royal Bank Of Canada increased their target price on Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Canaccord Genuity Group cut their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Raymond James Financial increased their target price on Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Evercore ISI cut their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. Nine investment 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $111.00.

Zimmer Biomet Stock Up 0.8%

Shares of NYSE ZBH traded up $0.83 during midday 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. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $114.72. The stock has a market capitalization of $20.92 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. The business's fifty day moving average price is $98.42 and its two-hundred day moving average price is $99.64.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its 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 business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the company earned $2.01 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.24 dividend. 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 presently 23.36%.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the insider directly owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.39% of the stock is currently owned by insiders.

Zimmer Biomet Company Profile

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.