Legal & General Group Plc Has $137.94 Million Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Legal & General Group Plc increased its Zimmer Biomet stake by 1.7% in the fourth quarter, bringing its holdings to 1,534,016 shares worth about $137.9 million.
• Zimmer Biomet reported strong quarterly results, with EPS of $2.09 beating estimates and revenue of $2.09 billion topping forecasts; quarterly revenue also rose 9.3% year over year.
• The company declared a quarterly dividend of $0.24 per share and analysts currently have a consensus Hold rating with an average price target of $102.70.

Legal & General Group Plc grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,534,016 shares of the medical equipment provider's stock after purchasing an additional 25,219 shares during the period. Legal & General Group Plc owned about 0.77% of Zimmer Biomet worth $137,939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ZBH. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of Zimmer Biomet by 6.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 360,462 shares of the medical equipment provider's stock worth $35,506,000 after acquiring an additional 22,104 shares during the period. National Pension Service lifted its holdings in shares of Zimmer Biomet by 4.5% during the 3rd quarter. National Pension Service now owns 393,476 shares of the medical equipment provider's stock worth $38,757,000 after acquiring an additional 16,928 shares during the period. AMG National Trust Bank lifted its holdings 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 worth $4,960,000 after acquiring an additional 11,339 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings 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 worth $6,115,000 after acquiring an additional 19,996 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Zimmer Biomet by 24.9% during the 3rd quarter. New York State Common Retirement Fund now owns 208,503 shares of the medical equipment provider's stock worth $20,538,000 after acquiring an additional 41,538 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Up 0.4%

Zimmer Biomet stock opened at $82.92 on Friday. Zimmer Biomet Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $108.29. The firm has a market capitalization of $16.04 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. The firm's fifty day moving average price is $88.09 and its two-hundred day moving average price is $90.69. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the firm earned $1.81 earnings per share. The business's quarterly revenue was up 9.3% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.47 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet's dividend payout ratio (DPR) is 24.94%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 2,650 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $94.66, for a total value of $250,849.00. Following the transaction, the senior vice president directly owned 10,224 shares of the company's stock, valued at approximately $967,803.84. This trade represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ZBH shares. Wall Street Zen raised shares of Zimmer Biomet from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Canaccord Genuity Group set a $83.00 price objective on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Truist Financial reissued a "hold" rating and issued a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a research note on Tuesday, February 10th. Finally, Citizens Jmp dropped their price objective on shares of Zimmer Biomet from $120.00 to $105.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company 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.