Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. significantly reduced its stake in Zimmer Biomet Holdings, Inc. by 60.3%, selling 10,240 shares and retaining 6,735 shares valued at approximately $757,000.
• Despite Ethic's reduction, several other institutional investors increased their positions in Zimmer Biomet, with Vanguard Group lifting its stake by 0.7% and others such as JPMorgan Chase & Co. boosting their holdings by over 251% in the first quarter.
• Zimmer Biomet's latest earnings report showed an EPS of $2.07, exceeding expectations, with a quarterly revenue of $2.08 billion, marking a 7% increase compared to the prior year.

Ethic Inc. cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 60.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,735 shares of the medical equipment provider's stock after selling 10,240 shares during the period. Ethic Inc.'s holdings in Zimmer Biomet were worth $757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ZBH. Garde Capital Inc. purchased a new stake in Zimmer Biomet during the first quarter worth about $29,000. Menard Financial Group LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth approximately $30,000. Washington Trust Advisors Inc. purchased a new stake in shares of Zimmer Biomet during the first quarter worth approximately $30,000. Columbia River Financial Group LLC purchased a new stake in shares of Zimmer Biomet during the first quarter worth approximately $30,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Zimmer Biomet during the first quarter worth approximately $35,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

Shares of ZBH stock traded up $3.2070 during trading hours on Friday, hitting $107.6270. The stock had a trading volume of 1,099,322 shares, compared to its average volume of 1,763,578. The firm has a market capitalization of $21.32 billion, a PE ratio of 26.19, a PEG ratio of 2.12 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. The stock's 50 day moving average is $95.52 and its 200 day moving average is $99.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96.

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 the consensus estimate of $1.98 by $0.09. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate 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 was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were issued 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 dividend payout ratio is presently 23.36%.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZBH. Canaccord Genuity Group cut their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research note on Tuesday, May 6th. JMP Securities cut their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Roth Capital reaffirmed a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Finally, Evercore ISI lowered their price target on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a report on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and a consensus target price 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.