CIBC Asset Management Inc Acquires 18,769 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• CIBC Asset Management increased its Zimmer Biomet stake by 67.6% in the fourth quarter, buying 18,769 more shares and bringing its total to 46,516 shares valued at about $4.18 million.
• Zimmer Biomet reported better-than-expected quarterly results, with EPS of $2.09 versus $1.86 expected and revenue of $2.09 billion, while revenue rose 9.3% year over year.
• The company also announced a quarterly dividend of $0.24 per share, payable July 31, and analysts currently rate the stock a consensus “Hold” with an average price target of $102.70.

CIBC Asset Management Inc lifted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 67.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 46,516 shares of the medical equipment provider's stock after acquiring an additional 18,769 shares during the quarter. CIBC Asset Management Inc's holdings in Zimmer Biomet were worth $4,183,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ZBH. Key Financial Inc lifted its holdings in shares of Zimmer Biomet by 164.6% in the 3rd quarter. Key Financial Inc now owns 262 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 163 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $32,000. Grove Bank & Trust lifted its holdings in shares of Zimmer Biomet by 431.6% in the 4th quarter. Grove Bank & Trust now owns 404 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 328 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Zimmer Biomet in the 2nd quarter worth approximately $37,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $38,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Trading Up 0.9%

NYSE:ZBH opened at $87.50 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $87.68 and a 200 day moving average of $90.48. The firm has a market capitalization of $16.93 billion, a P/E ratio of 22.73, a P/E/G ratio of 2.02 and a beta of 0.47. Zimmer Biomet Holdings, Inc. has a 52 week low of $79.12 and a 52 week high of $108.29.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.23. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.49 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet's payout ratio is presently 24.94%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ZBH shares. Weiss Ratings upgraded shares of Zimmer Biomet from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, April 7th. Leerink Partners assumed coverage on shares of Zimmer Biomet in a report on Monday, April 13th. They set a "hold" rating and a $101.00 price target for the company. Wall Street Zen upgraded shares of Zimmer Biomet from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Barclays lowered their price target on shares of Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating for the company in a report on Wednesday, April 29th. Finally, Wells Fargo & Company lowered their price target on shares of Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Zimmer Biomet presently has an average rating of "Hold" and an average target price of $102.70.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the transaction, the insider directly owned 27,251 shares of the company's stock, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lori Winkler sold 2,650 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $94.66, for a total transaction of $250,849.00. Following the transaction, the senior vice president directly owned 10,224 shares in the company, valued at approximately $967,803.84. The trade was a 20.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.28% of the stock is currently owned by insiders.

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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