Engineers Gate Manager LP Makes New $6.16 Million Investment in Zimmer Biomet Holdings, Inc. $ZBH

Engineers Gate Manager LP bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,574 shares of the medical equipment provider's stock, valued at approximately $6,162,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System grew its stake in Zimmer Biomet by 7,899.1% during the 2nd quarter. California State Teachers Retirement System now owns 26,825,816 shares of the medical equipment provider's stock valued at $2,309,434,000 after acquiring an additional 26,490,456 shares in the last quarter. Dodge & Cox grew its position in shares of Zimmer Biomet by 1.3% in the fourth quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider's stock valued at $2,113,736,000 after purchasing an additional 290,676 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Zimmer Biomet in the second quarter valued at approximately $1,344,282,000. State Street Corp increased its holdings in shares of Zimmer Biomet by 2.3% in the fourth quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider's stock valued at $795,814,000 after purchasing an additional 195,214 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider's stock valued at $601,204,000 after purchasing an additional 2,017,857 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Insider Activity at Zimmer Biomet

In related news, insider Chad Phipps sold 3,000 shares of Zimmer Biomet stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $98.35, for a total value of $295,050.00. Following the completion of the transaction, the insider owned 65,231 shares in the company, valued at approximately $6,415,468.85. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.28% of the company's stock.

Zimmer Biomet Stock Up 1.1%

NYSE:ZBH opened at $93.47 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average is $95.54 and its two-hundred day moving average is $91.52. Zimmer Biomet Holdings, Inc. has a 52 week low of $79.12 and a 52 week high of $106.88. The stock has a market capitalization of $17.83 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.06. Zimmer Biomet had a return on equity of 13.12% and a net margin of 9.48%.The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The company's revenue was up 4.8% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.54 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Zimmer Biomet's dividend payout ratio (DPR) is presently 23.36%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ZBH shares. BMO Capital Markets reissued a "market perform" rating and set a $96.00 price objective on shares of Zimmer Biomet in a research note on Thursday, August 6th. UBS Group reaffirmed a "buy" rating and issued a $120.00 target price on shares of Zimmer Biomet in a research note on Thursday, August 6th. Wall Street Zen lowered Zimmer Biomet from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Stifel Nicolaus boosted their price target on shares of Zimmer Biomet from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $104.42.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc NYSE: ZBH is a medical technology company that develops, manufactures and markets products designed to treat musculoskeletal conditions. Its portfolio includes orthopedic implants and related systems for hip, knee, shoulder and other joint replacements, as well as products used in sports medicine, extremity care and trauma procedures.

The company also provides robotic- and computer-assisted surgical technologies, digital solutions and other tools intended to support orthopedic procedures and patient care.

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