Hsbc Holdings PLC Sells 3,254 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Hsbc Holdings PLC reduced its stake in Zimmer Biomet Holdings by 0.7%, selling 3,254 shares and now owning 435,837 shares valued at approximately $49.26 million.
• Investment analysts have mixed ratings on Zimmer Biomet, with nine rating it a Buy, nine a Hold, and two a Sell, along with an average price target of $111.44.
• The company's latest earnings report showed a 7% year-over-year revenue increase and earnings per share of $2.07, beating estimates by $0.09.

Hsbc Holdings PLC reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 435,837 shares of the medical equipment provider's stock after selling 3,254 shares during the period. Hsbc Holdings PLC owned 0.22% of Zimmer Biomet worth $49,255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OneDigital Investment Advisors LLC acquired a new stake in shares of Zimmer Biomet in the first quarter valued at about $269,000. Keybank National Association OH grew its position in shares of Zimmer Biomet by 61.2% in the first quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock valued at $1,620,000 after purchasing an additional 5,434 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Zimmer Biomet by 26.4% in the first quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock valued at $35,800,000 after purchasing an additional 66,114 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Zimmer Biomet by 20.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock valued at $295,000 after purchasing an additional 435 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Zimmer Biomet by 10.8% in the fourth quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock valued at $10,144,000 after purchasing an additional 9,341 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the insider owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group lifted their target price on Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research report on Friday, August 8th. Wells Fargo & Company cut their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Evercore ISI dropped their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research report on Tuesday, July 8th. Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Finally, Canaccord Genuity Group lowered their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a report on Monday, May 12th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $111.44.

Zimmer Biomet Stock Down 1.3%

Shares of ZBH stock opened at $104.3440 on Friday. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.08 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. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71. The firm's 50-day moving average is $95.19 and its 200-day moving average is $99.32.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The business's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 EPS. 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 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 26th. Zimmer Biomet's dividend payout ratio is presently 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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