National Pension Service Buys 6,552 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• The National Pension Service increased its stake in Zimmer Biomet Holdings, Inc. by 1.8%, acquiring an additional 6,552 shares, bringing its total ownership to approximately 374,289 shares valued at $42.36 million.
• Zimmer Biomet reported earnings of $2.07 per share in its latest quarter, surpassing analyst expectations of $1.98, alongside a 7% year-over-year increase in revenue to $2.08 billion.
• The company recently declared a quarterly dividend of $0.24 per share, reflecting an annualized dividend yield of 0.9%, with a payout ratio of 23.36%.

National Pension Service lifted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 374,289 shares of the medical equipment provider's stock after buying an additional 6,552 shares during the period. National Pension Service owned about 0.19% of Zimmer Biomet worth $42,362,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ZBH. OneDigital Investment Advisors LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth approximately $269,000. Keybank National Association OH lifted its position in Zimmer Biomet by 61.2% in the first quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock worth $1,620,000 after purchasing an additional 5,434 shares during the period. Envestnet Asset Management Inc. boosted its stake in Zimmer Biomet by 26.4% during the first quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock worth $35,800,000 after buying an additional 66,114 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Zimmer Biomet by 20.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock valued at $295,000 after buying an additional 435 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Zimmer Biomet by 10.8% in the 4th quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock valued at $10,144,000 after buying an additional 9,341 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

ZBH stock opened at $102.77 on Friday. The company has a 50 day moving average price of $94.36 and a 200 day moving average price of $99.48. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The stock has a market capitalization of $20.36 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results 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. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%. The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same period last year, the firm earned $2.01 EPS. The business's revenue for the quarter was up 7.0% on a year-over-year basis. Analysts forecast 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 was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. Zimmer Biomet's payout ratio is currently 23.36%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the firm's 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 directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ZBH has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Royal Bank Of Canada upped their price objective on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Evercore ISI cut their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research report on Tuesday, July 8th. Robert W. Baird decreased their price target on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group set a $96.00 price objective on Zimmer Biomet and gave the stock a "sell" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $111.44.

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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