Jacobs & Co. CA Cuts Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Jacobs & Co. CA reduced its holdings in Zimmer Biomet Holdings, Inc. by 45.1%, resulting in ownership of 4,879 shares valued at approximately $445,000.
• Zimmer Biomet reported earnings of $2.07 per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.24 per share.
• The average analyst rating for Zimmer Biomet's stock is "Hold", with a revised price target averaging $111.00 after various upgrades and downgrades from different financial institutions.

Jacobs & Co. CA trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 45.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,879 shares of the medical equipment provider's stock after selling 4,009 shares during the period. Jacobs & Co. CA's holdings in Zimmer Biomet were worth $445,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ZBH. Janney Montgomery Scott LLC increased its stake in Zimmer Biomet by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock worth $2,903,000 after acquiring an additional 118 shares during the last quarter. Curbstone Financial Management Corp lifted its stake in shares of Zimmer Biomet by 3.4% in the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock valued at $483,000 after purchasing an additional 140 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of Zimmer Biomet by 45.9% in the 1st quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider's stock valued at $52,000 after purchasing an additional 145 shares in the last quarter. Roberts Wealth Advisors LLC lifted its stake in shares of Zimmer Biomet by 0.8% in the 1st quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider's stock valued at $2,093,000 after purchasing an additional 152 shares in the last quarter. Finally, Wesbanco Bank Inc. lifted its stake in shares of Zimmer Biomet by 0.8% in the 1st quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider's stock valued at $2,265,000 after purchasing an additional 163 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Down 1.1%

Shares of Zimmer Biomet stock opened at $103.15 on Friday. The business has a 50-day moving average of $99.46 and a 200-day moving average of $99.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The company has a market capitalization of $20.43 billion, a PE ratio of 25.10, a P/E/G ratio of 2.40 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $114.72.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its 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 company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The company's revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Wall Street Analysts Forecast Growth

ZBH has been the topic of several research analyst reports. UBS Group lifted their price objective on Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research note on Friday, August 8th. Raymond James Financial lifted their price objective on Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Royal Bank Of Canada raised their price objective on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Evercore ISI cut their price objective on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. Finally, Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average price target of $111.00.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the firm's 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 directly owned 6,833 shares in the company, valued at $711,656.95. This trade represents a 18.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.39% of the stock is owned by corporate insiders.

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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