Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB significantly reduced its stake in Zimmer Biomet Holdings, Inc. by 96.7% during the second quarter, holding only 880 shares valued at $80,000 after selling 25,508 shares.
• Several hedge funds have increased their positions in Zimmer Biomet, with notable acquisitions including OneDigital Investment Advisors LLC's new position worth $269,000 and Keybank National Association OH boosting its holdings by 61.2% to own 14,315 shares valued at $1,620,000.
• The company recently announced a quarterly dividend of $0.24 per share, with an annual yield of 1%, to be paid on October 31st to shareholders of record on September 30th.

MassMutual Private Wealth & Trust FSB lowered its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 96.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 880 shares of the medical equipment provider's stock after selling 25,508 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Zimmer Biomet were worth $80,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Zimmer Biomet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 23,052,925 shares of the medical equipment provider's stock worth $2,609,130,000 after buying an additional 166,763 shares during the last quarter. Dodge & Cox boosted its stake in shares of Zimmer Biomet by 2.3% during the 1st quarter. Dodge & Cox now owns 19,564,454 shares of the medical equipment provider's stock valued at $2,214,305,000 after purchasing an additional 446,018 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Zimmer Biomet by 236.0% in the first quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock worth $517,039,000 after buying an additional 3,208,596 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Zimmer Biomet by 251.3% in the first quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock worth $235,571,000 after purchasing an additional 1,488,918 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Zimmer Biomet by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,058,898 shares of the medical equipment provider's stock valued at $233,009,000 after acquiring an additional 58,060 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several recent analyst reports. UBS Group lifted their price target on Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a report on Friday, August 8th. Evercore ISI decreased their price objective on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a report on Tuesday, July 8th. Rothschild Redb raised Zimmer Biomet to a "strong-buy" rating in a research note on Thursday. Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Finally, Stifel Nicolaus raised their price objective on Zimmer Biomet from $115.00 to $118.00 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $113.16.

Insider Activity

In other news, SVP Lori Winkler sold 1,500 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the transaction, the senior vice president owned 6,833 shares in the company, valued at approximately $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

Zimmer Biomet Price Performance

ZBH traded down $0.18 on Friday, hitting $100.03. 4,228,497 shares of the company's stock traded hands, compared to its average volume of 1,336,843. The company's 50 day simple moving average is $100.06 and its 200-day simple moving average is $99.39. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $114.72. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 2.30 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.09. The business had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, research analysts anticipate 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. Shareholders of record on Tuesday, September 30th will be given a $0.24 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 annualized dividend and a yield of 1.0%. Zimmer Biomet's payout ratio is 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.