Korea Investment CORP Boosts Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Korea Investment CORP increased its stake in Zimmer Biomet Holdings, Inc. by 2.8% during the 1st quarter, owning 99,389 shares valued at approximately $11.25 million.
• Institutional investors collectively own 88.89% of Zimmer Biomet stock, with significant increases in stakes from firms like Brooklyn Investment Group and Raymond James Financial Inc.
• Zimmer Biomet reported earnings per share of $2.07 for the last quarter, surpassing analyst estimates, and forecasted fiscal year 2025 EPS guidance between 8.100-8.300.

Korea Investment CORP increased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,389 shares of the medical equipment provider's stock after buying an additional 2,700 shares during the period. Korea Investment CORP owned 0.05% of Zimmer Biomet worth $11,249,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group increased its stake in Zimmer Biomet by 45.9% in the 1st quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider's stock worth $52,000 after buying an additional 145 shares during the period. Northwest & Ethical Investments L.P. increased its stake in Zimmer Biomet by 42.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 26,002 shares of the medical equipment provider's stock worth $2,943,000 after buying an additional 7,689 shares during the period. Raymond James Financial Inc. increased its stake in Zimmer Biomet by 195.5% in the 1st quarter. Raymond James Financial Inc. now owns 594,097 shares of the medical equipment provider's stock worth $67,240,000 after buying an additional 393,077 shares during the period. Cresset Asset Management LLC increased its stake in Zimmer Biomet by 16.2% in the 1st quarter. Cresset Asset Management LLC now owns 43,219 shares of the medical equipment provider's stock worth $4,902,000 after buying an additional 6,011 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new position in Zimmer Biomet in the 1st quarter worth about $13,644,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. UBS Group raised their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Canaccord Genuity Group cut their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Finally, JMP Securities cut their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $111.44.

Zimmer Biomet Stock Down 1.3%

Shares of Zimmer Biomet stock opened at $104.3440 on Friday. The firm's 50 day moving average price is $95.19 and its 200-day moving average price is $99.32. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71. The company has a market cap of $20.67 billion, a P/E ratio of 25.39, a PEG ratio of 2.08 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm earned $2.01 EPS. The company's quarterly 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. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Insider Activity

In other news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction that occurred 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 transaction, the insider owned 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.39% of the stock is currently owned by insiders.

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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