Envestnet Portfolio Solutions Inc. Sells 3,158 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Zimmer Biomet Holdings, Inc. by 49.2%, selling 3,158 shares during the second quarter and holding 3,262 shares valued at $297,000.
• In contrast, other investors like Truist Financial Corp and the State of Alaska Department of Revenue significantly increased their holdings in Zimmer Biomet, with the latter raising its stake by 89.8%.
• Zimmer Biomet reported a quarterly EPS of $2.07, surpassing analysts' expectations and marking a 7% increase in revenue year-over-year, alongside a recently declared quarterly dividend of $0.24.

Envestnet Portfolio Solutions Inc. trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 49.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,262 shares of the medical equipment provider's stock after selling 3,158 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Zimmer Biomet were worth $297,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Truist Financial Corp increased its holdings in shares of Zimmer Biomet by 34.4% in the second quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider's stock worth $2,446,000 after purchasing an additional 6,867 shares during the last quarter. OneDigital Investment Advisors LLC bought a new stake in shares of Zimmer Biomet in the first quarter worth about $269,000. State of Alaska Department of Revenue increased its holdings in shares of Zimmer Biomet by 89.8% in the second quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider's stock worth $4,036,000 after purchasing an additional 20,945 shares during the last quarter. Thomasville National Bank increased its stake in Zimmer Biomet by 3.0% during the second quarter. Thomasville National Bank now owns 105,805 shares of the medical equipment provider's stock worth $9,650,000 after acquiring an additional 3,053 shares during the last quarter. Finally, Bridge Creek Capital Management LLC increased its stake in Zimmer Biomet by 12.3% during the second quarter. Bridge Creek Capital Management LLC now owns 30,133 shares of the medical equipment provider's stock worth $2,748,000 after acquiring an additional 3,297 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Trading Down 0.8%

ZBH opened at $103.13 on Friday. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 2.39 and a beta of 0.67. The stock's 50 day moving average price is $101.86 and its 200-day moving average price is $97.71. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $114.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior 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 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Rothschild Redb raised Zimmer Biomet to a "strong-buy" rating in a research note on Thursday, September 18th. Stifel Nicolaus boosted their price objective on Zimmer Biomet from $115.00 to $118.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Weiss Ratings reissued a "hold (c-)" rating on shares of Zimmer Biomet in a research note on Wednesday, October 8th. Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Finally, Rothschild & Co Redburn assumed coverage on Zimmer Biomet in a research note on Thursday, September 18th. They set a "buy" rating and a $130.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Zimmer Biomet has an average rating of "Hold" and a consensus target price of $111.94.

Insider Activity

In related news, SVP Lori Winkler sold 1,500 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the completion of the sale, the senior vice president owned 6,833 shares in the company, valued at approximately $711,656.95. The trade was a 18.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.39% of the company's stock.

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.

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