Invenomic Capital Management LP Makes New Investment in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Invenomic Capital Management initiated a new position in Zimmer Biomet, buying 133,858 shares worth about $12.0 million in the fourth quarter.
• Zimmer Biomet reported better-than-expected quarterly results, with earnings per share of $2.09 versus estimates of $1.86 and revenue of $2.09 billion, up 9.3% year over year.
• The company also announced a quarterly dividend of $0.24 per share, payable on July 31, while shares were down 2.4% and analysts currently rate the stock a Hold on average.

Invenomic Capital Management LP bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 133,858 shares of the medical equipment provider's stock, valued at approximately $12,037,000. Invenomic Capital Management LP owned approximately 0.07% of Zimmer Biomet at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. AMG National Trust Bank boosted its stake in shares of Zimmer Biomet by 29.1% during the 3rd quarter. AMG National Trust Bank now owns 50,359 shares of the medical equipment provider's stock valued at $4,960,000 after purchasing an additional 11,339 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Zimmer Biomet by 47.5% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 62,079 shares of the medical equipment provider's stock valued at $6,115,000 after purchasing an additional 19,996 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Zimmer Biomet by 6.1% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 399,826 shares of the medical equipment provider's stock valued at $39,383,000 after purchasing an additional 22,992 shares in the last quarter. Inceptionr LLC purchased a new position in Zimmer Biomet during the 3rd quarter valued at about $1,217,000. Finally, Wilsey Asset Management Inc. purchased a new position in Zimmer Biomet during the 4th quarter valued at about $32,439,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Down 2.4%

Shares of Zimmer Biomet stock opened at $87.17 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. The stock has a market capitalization of $16.86 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.47. Zimmer Biomet Holdings, Inc. has a 52-week low of $79.12 and a 52-week high of $108.29. The company has a 50-day simple moving average of $87.40 and a two-hundred day simple moving average of $90.21.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data 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. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same period in the previous year, the company earned $1.81 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.49 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet's payout ratio is presently 24.94%.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares of the company's stock, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ZBH shares. William Blair started coverage on shares of Zimmer Biomet in a research report on Friday, February 20th. They set a "market perform" rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 price target on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Citizens Jmp lowered their price target on shares of Zimmer Biomet from $120.00 to $105.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Zimmer Biomet from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average target price of $102.70.

About Zimmer Biomet

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.

Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.