Zimmer Biomet Holdings, Inc. $ZBH Shares Purchased by Causeway Capital Management LLC

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 boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 805,509 shares of the medical equipment provider's stock after purchasing an additional 35,577 shares during the period. Zimmer Biomet comprises about 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZBH. Ameriprise Financial Inc. grew its position in shares of Zimmer Biomet by 236.0% in 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 acquiring an additional 3,208,596 shares during the period. JPMorgan Chase & Co. grew its position in shares of Zimmer Biomet by 251.3% in 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 acquiring an additional 1,488,918 shares during the period. Nuveen LLC bought a new position in shares of Zimmer Biomet in the 1st quarter valued at about $155,891,000. Nuveen Asset Management LLC grew its position in shares of Zimmer Biomet by 191.8% in 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 acquiring an additional 913,310 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Zimmer Biomet in the 4th quarter valued at about $67,954,000. Institutional investors own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Royal Bank Of Canada lifted their target price on shares of Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a report on Monday, May 12th. UBS Group lifted their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a report on Friday, August 8th. Finally, Robert W. Baird reduced their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $111.44.

Insider Transactions at Zimmer Biomet

In related 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 completion of the transaction, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.39% of the stock is currently owned by corporate insiders.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $1.05 on Friday, reaching $106.11. 680,071 shares of the stock were exchanged, compared to its average volume of 1,717,984. The firm's 50 day moving average is $97.09 and its 200-day moving average is $99.47. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. 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 firm has a market cap of $21.02 billion, a PE ratio of 25.82, a P/E/G ratio of 2.09 and a beta of 0.68.

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

Zimmer Biomet Dividend Announcement

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

Zimmer Biomet 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.