Exchange Capital Management Inc. Decreases Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Exchange Capital Management Inc. has reduced its shareholding in Zimmer Biomet Holdings, Inc. by 22.4%, bringing its total ownership to 21,301 shares valued at approximately $1.94 million.
• Zimmer Biomet reported a quarterly earnings of $2.07 EPS, exceeding analysts' expectations, with a year-over-year revenue growth of 7.0%.
• The company declared a quarterly dividend of $0.24 per share, with a dividend yield of 1.0%, to be paid on October 31st to investors of record on September 30th.

Exchange Capital Management Inc. trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,301 shares of the medical equipment provider's stock after selling 6,161 shares during the quarter. Exchange Capital Management Inc.'s holdings in Zimmer Biomet were worth $1,943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in Zimmer Biomet by 236.0% during the first quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock valued at $517,039,000 after purchasing an additional 3,208,596 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Zimmer Biomet by 251.3% in the first quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock worth $235,571,000 after acquiring an additional 1,488,918 shares during the period. Nuveen LLC purchased a new position in shares of Zimmer Biomet in the first quarter valued at $155,891,000. Alyeska Investment Group L.P. bought a new stake in shares of Zimmer Biomet during the 1st quarter valued at $101,294,000. Finally, Boston Trust Walden Corp bought a new position in Zimmer Biomet in the 1st quarter worth about $54,108,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

ZBH opened at $99.14 on Friday. The stock's 50 day simple moving average is $100.80 and its 200 day simple moving average is $98.89. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $114.72. 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 firm has a market cap of $19.64 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.28 and a beta of 0.67.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The company's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Zimmer Biomet's payout ratio is currently 23.36%.

Wall Street Analyst Weigh In

ZBH has been the topic of a number of recent analyst reports. Evercore ISI lowered 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. Stifel Nicolaus raised their price target on shares of Zimmer Biomet from $115.00 to $118.00 and gave the company a "buy" rating in a report on Friday, September 19th. Raymond James Financial upped their price target on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Rothschild Redb upgraded Zimmer Biomet to a "strong-buy" rating in a research report on Thursday, September 18th. Finally, Rothschild & Co Redburn started coverage on Zimmer Biomet in a report on Thursday, September 18th. They issued a "buy" rating and a $130.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of "Moderate Buy" and an average target price of $112.44.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were 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 directly owned 6,833 shares in the company, valued at $711,656.95. This trade represents a 18.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.39% of the stock is currently owned by insiders.

About Zimmer Biomet

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.

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.