Northwest & Ethical Investments L.P. Boosts Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Zimmer Biomet Holdings by 42%, owning 26,002 shares valued at approximately $2.94 million.
• Zimmer Biomet recently announced a quarterly dividend of $0.24 per share, resulting in an annualized yield of 0.9%.
• The company's Q2 earnings exceeded analysts' expectations with an EPS of $2.07, compared to the consensus estimate of $1.98.

Northwest & Ethical Investments L.P. raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 42.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,002 shares of the medical equipment provider's stock after acquiring an additional 7,689 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Zimmer Biomet were worth $2,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ZBH. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet in the first quarter valued at approximately $29,000. Menard Financial Group LLC purchased a new position in shares of Zimmer Biomet in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. purchased a new position in shares of Zimmer Biomet in the first quarter valued at approximately $30,000. Columbia River Financial Group LLC acquired a new position in Zimmer Biomet during the 1st quarter worth approximately $30,000. Finally, Accent Capital Management LLC acquired a new position in Zimmer Biomet during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. JMP Securities reduced their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research report on Wednesday, May 7th. Raymond James Financial upped their price objective on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Canaccord Genuity Group lowered their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Finally, Wells Fargo & Company lowered their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $111.44.

Insider Buying and Selling

In other news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the insider owned 20,424 shares in the company, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.39% of the company's stock.

Zimmer Biomet Trading Up 3.1%

Shares of ZBH traded up $3.2070 during mid-day trading on Friday, hitting $107.6270. The company had a trading volume of 1,099,322 shares, compared to its average volume of 2,055,610. The business's 50-day simple moving average is $95.19 and its 200-day simple moving average is $99.32. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $116.71. The stock has a market cap of $21.32 billion, a PE ratio of 26.19, a P/E/G ratio of 2.08 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly 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 net margin of 10.51% and a return on equity of 12.76%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm posted $2.01 earnings per share. Zimmer Biomet's revenue for the quarter was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were issued a $0.24 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 0.9%. Zimmer Biomet's dividend payout ratio (DPR) is presently 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.