Dodge & Cox Purchases 446,018 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Dodge & Cox increased its stake in Zimmer Biomet Holdings by 2.3%, acquiring an additional 446,018 shares, bringing their total ownership to approximately 19.56 million shares valued at $2.21 billion.
• The company reported a quarterly EPS of $2.07, exceeding analysts' expectations, and has set its FY 2025 guidance for EPS between $8.10 and $8.30.
• Zimmer Biomet declared a quarterly dividend of $0.24 per share, resulting in an annualized dividend yield of 0.9%, with a payout ratio of 23.36%.

Dodge & Cox lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,564,454 shares of the medical equipment provider's stock after purchasing an additional 446,018 shares during the period. Dodge & Cox owned about 9.89% of Zimmer Biomet worth $2,214,305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of Zimmer Biomet in the first quarter worth approximately $579,000. Allstate Corp grew its holdings in shares of Zimmer Biomet by 19.1% in the first quarter. Allstate Corp now owns 7,537 shares of the medical equipment provider's stock worth $853,000 after purchasing an additional 1,208 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Zimmer Biomet by 236.0% in the first quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock worth $517,039,000 after purchasing an additional 3,208,596 shares during the last quarter. Norinchukin Bank The grew its holdings in shares of Zimmer Biomet by 12.8% in the first quarter. Norinchukin Bank The now owns 8,980 shares of the medical equipment provider's stock worth $1,016,000 after purchasing an additional 1,020 shares during the last quarter. Finally, CW Advisors LLC boosted its holdings in Zimmer Biomet by 8.2% in the first quarter. CW Advisors LLC now owns 3,123 shares of the medical equipment provider's stock valued at $353,000 after acquiring an additional 236 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction dated 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 owned 20,424 shares of the company's stock, valued at approximately $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $107.6270 on Friday. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $21.32 billion, a P/E ratio of 26.19, a P/E/G ratio of 2.06 and a beta of 0.68. The business has a fifty day simple moving average of $95.52 and a two-hundred day simple moving average of $99.32. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's payout ratio is currently 23.36%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. JMP Securities cut their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada lifted their price target on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Canaccord Genuity Group cut their price target on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Finally, Evercore ISI cut their price target 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. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $111.44.

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.

Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.