Zimmer Biomet Holdings, Inc. $ZBH Stock Holdings Boosted by Comerica Bank

Key Points

• Comerica Bank increased its stake in Zimmer Biomet Holdings, Inc. by 36.3%, acquiring an additional 12,311 shares to total 46,206 shares worth approximately $5.23 million.
• Zimmer Biomet reported earnings of $2.07 per share for the last quarter, surpassing estimates, with revenue of $2.08 billion, up 7.0% year-over-year.
• The company declared a quarterly dividend of $0.24 per share, set to be paid on October 31st, representing a 0.9% yield with a payout ratio of 23.36%.

Comerica Bank increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 36.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,206 shares of the medical equipment provider's stock after purchasing an additional 12,311 shares during the period. Comerica Bank's holdings in Zimmer Biomet were worth $5,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ZBH. Garde Capital Inc. purchased a new position in Zimmer Biomet in the first quarter valued at $29,000. Menard Financial Group LLC acquired a new position in Zimmer Biomet in the 4th quarter valued at about $30,000. Washington Trust Advisors Inc. acquired a new position in Zimmer Biomet in the 1st quarter valued at about $30,000. Columbia River Financial Group LLC acquired a new position in Zimmer Biomet in the 1st quarter valued at about $30,000. Finally, Accent Capital Management LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ZBH shares. Evercore ISI decreased their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a report on Tuesday, July 8th. The Goldman Sachs Group dropped their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. UBS Group increased their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $111.44.

Zimmer Biomet Price Performance

ZBH traded up $1.05 during midday trading on Friday, reaching $106.11. 680,071 shares of the company's stock were exchanged, compared to its average volume of 1,636,568. The business's 50-day moving average price is $97.09 and its 200 day moving average price is $99.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The stock has a market capitalization 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 Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating 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 business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business posted $2.01 earnings per share. The company's 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, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Insider Transactions at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction 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 directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate 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.