JPMorgan Chase & Co. Acquires 1,488,918 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• JPMorgan Chase & Co. significantly increased its stake in Zimmer Biomet Holdings, acquiring an additional 1,488,918 shares in the first quarter, raising their total holdings to 2,081,381 shares. This stake is valued at approximately $235.57 million.
• Zimmer Biomet reported earnings of $2.07 per share for the most recent quarter, surpassing analysts' expectations of $1.98, along with a revenue of $2.08 billion, a year-over-year increase of 7.0%.
• The company has announced a quarterly dividend of $0.24 per share, representing an annualized dividend of $0.96 and a yield of 0.9%.

JPMorgan Chase & Co. grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 251.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,081,381 shares of the medical equipment provider's stock after acquiring an additional 1,488,918 shares during the period. JPMorgan Chase & Co. owned 1.05% of Zimmer Biomet worth $235,571,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Garde Capital Inc. bought a new position in shares of Zimmer Biomet in the first quarter valued at approximately $29,000. Menard Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. acquired a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $30,000. Columbia River Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $30,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $35,000. Institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

ZBH has been the subject of a number of research reports. Canaccord Genuity Group lowered their price target 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. Morgan Stanley lowered their price target on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Raymond James Financial raised their price target on shares of Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered 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 report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and a consensus target price of $111.44.

Insider Buying and Selling

In related news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.39% of the company's stock.

Zimmer Biomet Trading Up 0.6%

Shares of NYSE ZBH traded up $0.65 during midday trading on Friday, reaching $102.77. 1,058,191 shares of the stock were exchanged, compared to its average volume of 1,806,593. The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.01 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The business has a 50-day simple moving average of $94.36 and a two-hundred day simple moving average of $99.48. 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 posted its quarterly earnings data 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. The business 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 firm's revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 EPS. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's payout ratio is currently 23.36%.

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.