Gabelli Funds LLC Sells 4,300 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Gabelli Funds LLC reduced its stake in Zimmer Biomet Holdings, Inc. by 3.7%, now holding 110,950 shares valued at approximately $12.56 million after selling 4,300 shares in the first quarter.
• Zimmer Biomet reported better-than-expected results for the last quarter, with an EPS of $2.07, exceeding estimates by $0.09 and a revenue of $2.08 billion.
• The company announced a quarterly dividend of $0.24 per share, with a 0.9% annualized dividend yield, set to be paid on October 31st.

Gabelli Funds LLC decreased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,950 shares of the medical equipment provider's stock after selling 4,300 shares during the period. Gabelli Funds LLC owned 0.06% of Zimmer Biomet worth $12,557,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Zimmer Biomet by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 23,052,925 shares of the medical equipment provider's stock valued at $2,609,130,000 after buying an additional 166,763 shares during the period. Dodge & Cox grew its holdings in shares of Zimmer Biomet by 2.3% in the 1st quarter. Dodge & Cox now owns 19,564,454 shares of the medical equipment provider's stock valued at $2,214,305,000 after buying an additional 446,018 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Zimmer Biomet by 236.0% in the 1st quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock valued at $517,039,000 after buying an additional 3,208,596 shares during the period. Northern Trust Corp grew its holdings in shares of Zimmer Biomet by 7.6% in the 4th quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider's stock valued at $250,367,000 after buying an additional 167,435 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Zimmer Biomet by 251.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock valued at $235,571,000 after buying an additional 1,488,918 shares during the period. Institutional investors own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. JMP Securities cut their price target 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. The Goldman Sachs Group cut their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Royal Bank Of Canada lifted their price target on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Evercore ISI cut their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $111.44.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.39% of the stock is owned by insiders.

Zimmer Biomet Stock Up 1.0%

ZBH traded up $1.05 on Friday, hitting $106.11. 680,071 shares of the company were exchanged, compared to its average volume of 1,717,984. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The company has a market cap of $21.02 billion, a PE ratio of 25.82, a PEG ratio of 2.09 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. The stock's fifty day moving average is $97.09 and its 200-day moving average is $99.47.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 12.76% and a net margin of 10.51%.Zimmer Biomet's revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

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

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.