Park Avenue Securities LLC Takes Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Park Avenue Securities LLC acquired a new position in ZBH, purchasing 6,034 shares valued at approximately $550,000 during the second quarter.
• Multiple institutional investors, including Vanguard Group Inc. and Ameriprise Financial Inc., have increased their stakes in Zimmer Biomet, indicating strong institutional interest with 88.89% of the stock owned by institutional investors.
• Zimmer Biomet recently declared a quarterly dividend of $0.24 per share, with an annualized yield of 1.0%, as its stock trades in the range of $89.22 to $114.72 over the past year.

Park Avenue Securities LLC acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,034 shares of the medical equipment provider's stock, valued at approximately $550,000.

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

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the sale, the senior vice president owned 6,833 shares in the company, valued at $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Zimmer Biomet Price Performance

Shares of ZBH opened at $98.18 on Monday. The stock has a market cap of $19.45 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $114.72. The firm's 50-day simple moving average is $100.58 and its two-hundred day simple moving average is $99.07.

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 analysts' consensus estimates 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 analysts' expectations of $2.06 billion. During the same quarter in the prior year, the company posted $2.01 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Zimmer Biomet's dividend payout ratio is presently 23.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZBH. Royal Bank Of Canada upped their price objective on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. UBS Group boosted their price target on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Evercore ISI reduced their price target on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. Rothschild Redb upgraded shares of Zimmer Biomet to a "strong-buy" rating in a research report on Thursday, September 18th. Finally, Roth Capital reiterated a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $113.16.

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.

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