Price T Rowe Associates Inc. MD Has $1.64 Billion Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Price T Rowe Associates Inc. reduced its position in Zimmer Biomet Holdings by 2.1%, now owning about 7.31% of the company, amounting to approximately $1.636 billion.
• Multiple hedge funds have recently initiated positions in Zimmer Biomet, with institutional investors now holding 88.89% of the stock.
• Zimmer Biomet reported a quarterly earnings of $2.07 EPS, surpassing analysts' expectations, and plans to pay a quarterly dividend of $0.24 per share.

Price T Rowe Associates Inc. MD lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,456,862 shares of the medical equipment provider's stock after selling 303,582 shares during the period. Price T Rowe Associates Inc. MD owned approximately 7.31% of Zimmer Biomet worth $1,636,229,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $204,000. Jump Financial LLC grew its position in shares of Zimmer Biomet by 63.8% during the 4th quarter. Jump Financial LLC now owns 3,268 shares of the medical equipment provider's stock worth $345,000 after purchasing an additional 1,273 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Zimmer Biomet by 72.6% during the 4th quarter. NewEdge Advisors LLC now owns 4,713 shares of the medical equipment provider's stock worth $498,000 after purchasing an additional 1,983 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Zimmer Biomet by 8.2% during the 4th quarter. First Trust Advisors LP now owns 324,473 shares of the medical equipment provider's stock worth $34,274,000 after acquiring an additional 24,671 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Zimmer Biomet by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,000,838 shares of the medical equipment provider's stock worth $211,348,000 after acquiring an additional 126,151 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley cut their price target on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Evercore ISI cut their price target on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a report on Tuesday, July 8th. Roth Capital reaffirmed a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Robert W. Baird cut their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, Raymond James Financial upped their price target on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $111.44.

Insider Activity

In other news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction 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 completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.39% of the company's stock.

Zimmer Biomet Trading Up 3.1%

Shares of ZBH stock traded up $3.2070 during trading hours on Friday, hitting $107.6270. 1,099,322 shares of the company's stock traded hands, compared to its average volume of 1,763,578. The stock's 50 day simple moving average is $95.52 and its 200 day simple moving average is $99.26. The stock has a market cap of $21.32 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. 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 (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.09. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, sell-side analysts anticipate 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 paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. Zimmer Biomet's dividend payout ratio (DPR) is presently 23.36%.

Zimmer Biomet 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.