OMERS ADMINISTRATION Corp Buys Shares of 10,708 Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• OMERS Administration Corp. initiated a position in Zimmer Biomet by purchasing 10,708 shares valued at approximately $922,000. Institutional investors collectively own 88.89% of the company.
• Analysts have raised several price targets, with a consensus target of $104.42 and an overall “Hold” rating. Ratings include one Strong Buy, six Buys, fourteen Holds and two Sells.
• Zimmer Biomet exceeded quarterly expectations, reporting $2.07 in EPS versus a $2.01 estimate and $2.18 billion in revenue, up 4.8% year over year. Shares opened at $99.40, down 2.0%.

OMERS ADMINISTRATION Corp bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,708 shares of the medical equipment provider's stock, valued at approximately $922,000.

A number of other hedge funds also recently made changes to their positions in ZBH. BlackRock Inc. bought a new position in Zimmer Biomet in the 2nd quarter worth approximately $1,344,282,000. Norges Bank acquired a new position in Zimmer Biomet during the 4th quarter worth $221,234,000. Franklin Resources Inc. grew its stake in shares of Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider's stock worth $601,204,000 after purchasing an additional 2,017,857 shares in the last quarter. Auto Owners Insurance Co increased its holdings in shares of Zimmer Biomet by 8,892.0% during the fourth quarter. Auto Owners Insurance Co now owns 2,009,712 shares of the medical equipment provider's stock valued at $180,713,000 after purchasing an additional 1,987,362 shares during the period. Finally, Equity Investment Corp bought a new stake in shares of Zimmer Biomet during the second quarter valued at about $144,748,000. Institutional investors own 88.89% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZBH. UBS Group reiterated a "buy" rating and issued a $120.00 target price on shares of Zimmer Biomet in a research report on Thursday, August 6th. Truist Financial boosted their price target on shares of Zimmer Biomet from $92.00 to $106.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Royal Bank Of Canada increased their price objective on shares of Zimmer Biomet from $101.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Sanford C. Bernstein boosted their target price on Zimmer Biomet from $91.00 to $93.00 and gave the stock a "market perform" rating in a report on Thursday, August 6th. Finally, Robert W. Baird set a $104.00 price target on Zimmer Biomet in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $104.42.

Zimmer Biomet Trading Down 2.0%

Shares of NYSE:ZBH opened at $99.40 on Friday. 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 Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $106.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.94 and a current ratio of 1.69. The company has a 50 day moving average price of $93.63 and a 200 day moving average price of $91.38.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.06. The company had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.13 billion. Zimmer Biomet had a return on equity of 13.12% and a net margin of 9.48%.The firm's revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. On average, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.54 EPS for the current fiscal year.

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.

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