Zimmer Biomet Holdings, Inc. $ZBH Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Zimmer Biomet Holdings, Inc. by 11.4%, owning a total of 27,284 shares worth approximately $3.08 million as of the latest SEC filing.
• Insider Sang Yi sold 1,000 shares at an average price of $95.00, resulting in a total transaction value of $95,000, and a decrease in their position by 4.67%.
• Zimmer Biomet reported quarterly earnings of $2.07 per share, surpassing consensus estimates, and declared a quarterly dividend of $0.24 per share, representing a 0.9% yield.

Public Sector Pension Investment Board increased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 11.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,284 shares of the medical equipment provider's stock after buying an additional 2,789 shares during the period. Public Sector Pension Investment Board's holdings in Zimmer Biomet were worth $3,088,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Independent Advisor Alliance increased its stake in Zimmer Biomet by 7.5% in the 1st quarter. Independent Advisor Alliance now owns 20,622 shares of the medical equipment provider's stock worth $2,334,000 after buying an additional 1,435 shares during the period. Nuveen LLC purchased a new position in Zimmer Biomet in the 1st quarter worth about $155,891,000. Magellan Asset Management Ltd increased its stake in Zimmer Biomet by 9.9% in the 1st quarter. Magellan Asset Management Ltd now owns 433,288 shares of the medical equipment provider's stock worth $49,040,000 after buying an additional 38,914 shares during the period. JPMorgan Chase & Co. increased its stake in Zimmer Biomet by 251.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock worth $235,571,000 after buying an additional 1,488,918 shares during the period. Finally, Koss Olinger Consulting LLC increased its stake in Zimmer Biomet by 2.3% in the 1st quarter. Koss Olinger Consulting LLC now owns 20,378 shares of the medical equipment provider's stock worth $2,306,000 after buying an additional 454 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ZBH shares. JMP Securities reduced their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. Morgan Stanley cut their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird cut their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Finally, Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average target price of $111.44.

Zimmer Biomet Stock Up 3.1%

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

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 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 business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same period last year, the business earned $2.01 EPS. The company's revenue 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. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is currently 23.36%.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider directly owned 20,424 shares in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.39% of the company's stock.

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.