HB Wealth Management LLC Cuts Stake in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• HB Wealth Management LLC reduced its stake in Zimmer Biomet Holdings by 15.0%, owning 16,171 shares worth approximately $1.475 million after selling 2,857 shares in the second quarter.
• The company reported a quarterly EPS of $2.07, exceeding analysts' expectations of $1.98, with revenues of $2.08 billion, marking a 7.0% increase year-over-year.
• Zimmer Biomet announced a quarterly dividend of $0.24 per share, with a dividend yield of 1.0%, scheduled to be paid on October 31st.

HB Wealth Management LLC lessened its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 15.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,171 shares of the medical equipment provider's stock after selling 2,857 shares during the period. HB Wealth Management LLC's holdings in Zimmer Biomet were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC grew its position in shares of Zimmer Biomet by 37.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 35,129 shares of the medical equipment provider's stock worth $3,204,000 after buying an additional 9,482 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of Zimmer Biomet by 3.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 5,972 shares of the medical equipment provider's stock worth $545,000 after buying an additional 194 shares during the last quarter. Uncommon Cents Investing LLC grew its position in shares of Zimmer Biomet by 1.0% in the 2nd quarter. Uncommon Cents Investing LLC now owns 20,903 shares of the medical equipment provider's stock worth $1,907,000 after buying an additional 212 shares during the last quarter. First American Bank purchased a new position in shares of Zimmer Biomet in the 2nd quarter worth approximately $567,000. Finally, State of Alaska Department of Revenue grew its position in shares of Zimmer Biomet by 89.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider's stock worth $4,036,000 after buying an additional 20,945 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Up 0.3%

Zimmer Biomet stock opened at $99.14 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $114.72. The company has a market capitalization of $19.64 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. The stock has a 50-day moving average price of $100.80 and a 200 day moving average price of $98.89.

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, topping analysts' consensus estimates of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. The company's revenue was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

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

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $104.15, for a total transaction of $156,225.00. Following the completion of the sale, the senior vice president owned 6,833 shares of the company's stock, valued at $711,656.95. The trade was a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ZBH has been the topic of a number of analyst reports. Redburn Partners set a $130.00 price objective on shares of Zimmer Biomet in a research report on Thursday, September 18th. UBS Group lifted their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research report on Friday, August 8th. Evercore ISI dropped their price target 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. Rothschild Redb upgraded Zimmer Biomet to a "strong-buy" rating in a research note on Thursday, September 18th. Finally, Royal Bank Of Canada boosted their price target on Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $112.44.

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.

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