Johnson Investment Counsel Inc. Sells 22,675 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Johnson Investment Counsel Inc. reduced its holdings in Zimmer Biomet by 32.6%, selling 22,675 shares and leaving it with 46,854 shares valued at approximately $4.27 million.
• Zimmer Biomet reported $2.07 EPS for the most recent quarter, surpassing estimates and showing a 7.0% increase in revenue compared to the prior year.
• The company declared a quarterly dividend of $0.24 per share to be paid on October 31st, representing an annual yield of 1.0%.

Johnson Investment Counsel Inc. lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 32.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,854 shares of the medical equipment provider's stock after selling 22,675 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Zimmer Biomet were worth $4,274,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ZBH. Garde Capital Inc. bought a new stake in Zimmer Biomet during the first quarter worth $29,000. Washington Trust Advisors Inc. bought a new stake in Zimmer Biomet during the first quarter worth $30,000. Columbia River Financial Group LLC bought a new stake in Zimmer Biomet during the first quarter worth $30,000. Accent Capital Management LLC bought a new stake in Zimmer Biomet during the first quarter worth $35,000. Finally, Cullen Frost Bankers Inc. raised its position in Zimmer Biomet by 1,452.4% during the first quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider's stock worth $37,000 after acquiring an additional 305 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Shares of ZBH opened at $94.79 on Monday. The firm has a market capitalization of $18.78 billion, a PE ratio of 23.06, a PEG ratio of 2.18 and a beta of 0.67. The company's 50-day moving average is $101.31 and its 200-day moving average is $98.15. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $114.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the company posted $2.01 earnings per share. Zimmer Biomet'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. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,500 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $104.15, for a total value of $156,225.00. Following the transaction, the senior vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ZBH shares. Royal Bank Of Canada set a $111.00 price target on shares of Zimmer Biomet in a research report on Friday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Zimmer Biomet in a research report on Wednesday, October 8th. Evercore ISI dropped 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. Raymond James Financial upped their price target on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $112.67.

Zimmer Biomet Company 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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