Causeway Capital Management LLC Has $91.17 Million Stock Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Causeway Capital Management LLC increased its stake in Zimmer Biomet Holdings by 4.6%, owning 805,509 shares valued at approximately $91.17 million.
• Zimmer Biomet reported a quarterly earnings result with an EPS of $2.07, exceeding estimates and showing a 7% year-over-year revenue growth to $2.08 billion.
• The company recently announced a quarterly dividend of $0.24 per share, representing an annualized yield of 0.9% with a payout ratio of 23.36%.

Causeway Capital Management LLC raised its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 805,509 shares of the medical equipment provider's stock after acquiring an additional 35,577 shares during the quarter. Zimmer Biomet makes up 1.9% of Causeway Capital Management LLC's portfolio, making the stock its 9th largest holding. Causeway Capital Management LLC owned 0.41% of Zimmer Biomet worth $91,168,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. OneDigital Investment Advisors LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter worth $269,000. Keybank National Association OH boosted its stake in shares of Zimmer Biomet by 61.2% during the 1st quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock worth $1,620,000 after acquiring an additional 5,434 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Zimmer Biomet by 26.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock worth $35,800,000 after acquiring an additional 66,114 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of Zimmer Biomet by 20.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock worth $295,000 after acquiring an additional 435 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Zimmer Biomet by 10.8% during the 4th quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock worth $10,144,000 after acquiring an additional 9,341 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $107.3520 on Tuesday. The company has a market cap of $21.27 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. The company's 50-day moving average price is $95.82 and its 200-day moving average price is $99.28. 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 (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.98 by $0.09. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. Zimmer Biomet's dividend payout ratio is presently 23.36%.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the insider owned 20,424 shares in the company, valued at approximately $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on ZBH shares. JPMorgan Chase & Co. dropped their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a "buy" rating in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. UBS Group lifted their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research note on Friday, August 8th. Finally, Robert W. Baird decreased their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $111.44.

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.

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