Norges Bank Buys New Shares in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Zimmer Biomet, buying 2.46 million shares worth about $221.2 million and ending with 1.24% ownership of the company.
• Zimmer Biomet’s latest earnings topped expectations, with EPS of $2.09 versus the $1.86 estimate and revenue of $2.09 billion, up 9.3% year over year. The company also reiterated FY2026 guidance of 8.40 to 8.55 EPS.
• Analyst sentiment remains cautious, with a consensus rating of Hold and a target price of $102.70. The company also announced a quarterly dividend of $0.24 per share, or $0.96 annualized, yielding about 1.1%.

Norges Bank bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,460,348 shares of the medical equipment provider's stock, valued at approximately $221,234,000. Norges Bank owned 1.24% of Zimmer Biomet at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Key Financial Inc raised its stake in Zimmer Biomet by 164.6% in the third quarter. Key Financial Inc now owns 262 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 163 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at $32,000. Grove Bank & Trust raised its stake in Zimmer Biomet by 431.6% in the fourth quarter. Grove Bank & Trust now owns 404 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 328 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Zimmer Biomet in the second quarter valued at $37,000. Finally, Basepoint Wealth LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at $38,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZBH. BTIG Research restated a "neutral" rating on shares of Zimmer Biomet in a research note on Monday, March 23rd. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research note on Tuesday, February 10th. JPMorgan Chase & Co. cut their price target on Zimmer Biomet from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 29th. Stifel Nicolaus cut their price target on Zimmer Biomet from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Finally, Weiss Ratings upgraded Zimmer Biomet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $102.70.

Insider Activity

In related news, SVP Lori Winkler sold 2,650 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $94.66, for a total value of $250,849.00. Following the transaction, the senior vice president owned 10,224 shares in the company, valued at $967,803.84. The trade was a 20.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sang Yi sold 5,000 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the transaction, the insider owned 27,251 shares in the company, valued at $2,252,022.64. This trade represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.28% of the company's stock.

Zimmer Biomet Stock Up 0.9%

ZBH opened at $83.70 on Wednesday. The business's 50-day simple moving average is $87.82 and its 200-day simple moving average is $90.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. Zimmer Biomet Holdings, Inc. has a one year low of $79.12 and a one year high of $108.29. The stock has a market capitalization of $16.19 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.92 and a beta of 0.47.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.23. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the previous year, the firm earned $1.81 earnings per share. The business's 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. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, June 25th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, June 25th. Zimmer Biomet's payout ratio is 24.94%.

Zimmer Biomet Company Profile

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.