Hourglass Capital LLC Reduces Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Hourglass Capital LLC reduced its holdings in Zimmer Biomet Holdings by 6.7%, leaving them with 62,930 shares valued at approximately $5.74 million as of the latest SEC filing.
• Multiple large investors adjusted their stakes in Zimmer Biomet, with Truist Financial Corp increasing its position by 34.4%, and the State of Alaska Department of Revenue lifting its stake by 89.8% in the 2nd quarter.
• Zimmer Biomet announced a quarterly dividend of $0.24 scheduled for payment on October 31st, which represents a 1.0% yield based on an annualized payout of $0.96.

Hourglass Capital LLC trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 6.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,930 shares of the medical equipment provider's stock after selling 4,500 shares during the quarter. Hourglass Capital LLC's holdings in Zimmer Biomet were worth $5,740,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Truist Financial Corp lifted its stake in Zimmer Biomet by 34.4% in the 2nd quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider's stock worth $2,446,000 after purchasing an additional 6,867 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in Zimmer Biomet in the 1st quarter worth approximately $269,000. State of Alaska Department of Revenue lifted its stake in 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 purchasing an additional 20,945 shares in the last quarter. Thomasville National Bank raised its position in shares of Zimmer Biomet by 3.0% during the 2nd quarter. Thomasville National Bank now owns 105,805 shares of the medical equipment provider's stock valued at $9,650,000 after buying an additional 3,053 shares during the period. Finally, Bridge Creek Capital Management LLC raised its position in shares of Zimmer Biomet by 12.3% during the 2nd quarter. Bridge Creek Capital Management LLC now owns 30,133 shares of the medical equipment provider's stock valued at $2,748,000 after buying an additional 3,297 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the stock in a transaction dated Monday, September 8th. The shares were 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 in the company, valued at approximately $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ZBH has been the topic of several analyst reports. Evercore ISI reduced their price target on shares of Zimmer Biomet from $106.00 to $104.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 7th. Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Raymond James Financial boosted their target price on Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Redburn Partners set a $130.00 price target on shares of Zimmer Biomet in a research note on Thursday, September 18th. Finally, Stifel Nicolaus boosted their price target on shares of Zimmer Biomet from $115.00 to $118.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $111.94.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $99.44 on Thursday. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $101.65 and a 200 day moving average price of $98.05. The company has a market cap of $19.70 billion, a P/E ratio of 24.20, a PEG ratio of 2.26 and a beta of 0.67. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $114.72.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued 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. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business 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. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Zimmer Biomet's dividend payout ratio is currently 23.36%.

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.

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