Legal & General Group Plc acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,465,529 shares of the medical equipment provider's stock, valued at approximately $126,167,000. Legal & General Group Plc owned about 0.77% of Zimmer Biomet as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in ZBH. Brighton Jones LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at $204,000. Sivia Capital Partners LLC acquired a new position in Zimmer Biomet during the 2nd quarter worth about $232,000. United Bank lifted its stake in Zimmer Biomet by 10.7% during the 2nd quarter. United Bank now owns 11,896 shares of the medical equipment provider's stock worth $1,085,000 after acquiring an additional 1,153 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Zimmer Biomet by 129.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,132 shares of the medical equipment provider's stock valued at $194,000 after acquiring an additional 1,202 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Zimmer Biomet by 93.6% during the 2nd quarter. Cerity Partners LLC now owns 76,785 shares of the medical equipment provider's stock valued at $7,004,000 after acquiring an additional 37,116 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the stock. Zacks Research upgraded shares of Zimmer Biomet from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Sanford C. Bernstein raised their price objective on shares of Zimmer Biomet from $91.00 to $93.00 and gave the company a "market perform" rating in a research note on Thursday, August 6th. Robert W. Baird set a $104.00 price objective on shares of Zimmer Biomet in a report on Thursday, August 6th. Citigroup cut their target price on shares of Zimmer Biomet from $95.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group increased their target price on shares of Zimmer Biomet from $83.00 to $100.00 and gave the stock a "hold" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Zimmer Biomet has an average rating of "Hold" and an average price target of $104.42.
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Zimmer Biomet Trading Down 2.0%
ZBH opened at $99.40 on Friday. The business has a fifty day moving average price of $93.63 and a 200 day moving average price of $91.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.94. Zimmer Biomet Holdings, Inc. has a 12 month low of $79.12 and a 12 month high of $106.88. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.76 and a beta of 0.45.
Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.06. Zimmer Biomet had a return on equity of 13.12% and a net margin of 9.48%.The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted $2.07 earnings per share. The business's revenue for the quarter was up 4.8% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.54 earnings per share for the current fiscal year.
About Zimmer Biomet
(
Free Report)
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.
Further Reading
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).
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