Fifth Third Bancorp Has $4.52 Million Stock Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Fifth Third Bancorp boosted its Zimmer Biomet stake by 251.1% in the first quarter, ending with 49,992 shares valued at about $4.52 million.
• Zimmer Biomet beat earnings expectations in its latest quarter, posting $2.09 EPS versus the $1.86 estimate and revenue of $2.09 billion, up 9.3% year over year.
• Despite the earnings beat, the stock was down 2.7% and analysts remain cautious, with a consensus rating of “Hold” and an average price target of $100.70.

Fifth Third Bancorp raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 251.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,992 shares of the medical equipment provider's stock after acquiring an additional 35,754 shares during the period. Fifth Third Bancorp's holdings in Zimmer Biomet were worth $4,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. DV Equities LLC acquired a new position in Zimmer Biomet in the 4th quarter valued at approximately $25,000. Monetary Solutions Ltd acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at about $30,000. Gen Wealth Partners Inc bought a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $31,000. Flagship Harbor Advisors LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at $32,000. Finally, Grove Bank & Trust lifted its position in shares of Zimmer Biomet by 431.6% during the 4th quarter. Grove Bank & Trust now owns 404 shares of the medical equipment provider's stock valued at $36,000 after acquiring an additional 328 shares during the period. Institutional investors own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ZBH shares. Canaccord Genuity Group set a $83.00 target price on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Zimmer Biomet in a report on Monday, July 6th. Truist Financial reissued a "hold" rating and set a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Leerink Partners began coverage on Zimmer Biomet in a research note on Monday, April 13th. They issued a "hold" rating and a $101.00 target price for the company. Finally, Barclays decreased their target price on Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating for the company in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and a consensus price target of $100.70.

Zimmer Biomet Trading Down 2.7%

NYSE:ZBH opened at $91.18 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.73 and a quick ratio of 0.95. Zimmer Biomet Holdings, Inc. has a one year low of $79.12 and a one year high of $108.29. The company has a market cap of $17.64 billion, a PE ratio of 23.68, a PEG ratio of 2.68 and a beta of 0.46. The firm has a 50-day moving average of $87.17 and a 200-day moving average of $89.83.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.23. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, June 25th. Zimmer Biomet's dividend payout ratio (DPR) is currently 24.94%.

Insider Activity

In related news, insider Sang Yi sold 5,000 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider owned 27,251 shares in the company, valued at approximately $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.28% of the stock is currently owned by insiders.

Zimmer Biomet Company Profile

Zimmer Biomet NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company's product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.

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