Quantitative Investment Management LLC Buys Shares of 11,712 Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Quantitative Investment Management acquired 11,712 Zimmer Biomet shares worth approximately $1.0 million, while institutional investors collectively own 88.89% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $104.42; targets range from $93 to $120.
• Zimmer Biomet beat quarterly expectations, reporting $2.07 in adjusted EPS and $2.18 billion in revenue, up 4.8% year over year. The company also declared a quarterly dividend of $0.24 per share.

Quantitative Investment Management LLC bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,712 shares of the medical equipment provider's stock, valued at approximately $1,008,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Moore Capital Management LP bought a new stake in Zimmer Biomet in the second quarter valued at approximately $17,101,000. New Mexico Educational Retirement Board boosted its position in shares of Zimmer Biomet by 8.8% during the second quarter. New Mexico Educational Retirement Board now owns 9,922 shares of the medical equipment provider's stock worth $854,000 after purchasing an additional 800 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Zimmer Biomet by 1.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 92,224 shares of the medical equipment provider's stock valued at $7,940,000 after buying an additional 1,106 shares during the period. Mufg Securities Americas Inc. grew its holdings in shares of Zimmer Biomet by 6.3% in the 2nd quarter. Mufg Securities Americas Inc. now owns 5,827 shares of the medical equipment provider's stock valued at $502,000 after buying an additional 343 shares during the period. Finally, Nissay Asset Management Corp Japan increased its position in shares of Zimmer Biomet by 1.2% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 26,481 shares of the medical equipment provider's stock valued at $2,280,000 after buying an additional 326 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Sanford C. Bernstein raised their price objective on Zimmer Biomet from $91.00 to $93.00 and gave the stock a "market perform" rating in a research note on Thursday, August 6th. Wall Street Zen cut Zimmer Biomet from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Truist Financial increased their price target on Zimmer Biomet from $92.00 to $106.00 and gave the stock a "hold" rating in a report on Thursday, August 6th. UBS Group reaffirmed a "buy" rating and set a $120.00 price target on shares of Zimmer Biomet in a research report on Thursday, August 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a report on Wednesday, August 5th. One equities research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $104.42.

Zimmer Biomet Trading Down 0.5%

Shares of NYSE:ZBH opened at $99.52 on Wednesday. Zimmer Biomet Holdings, Inc. has a 12 month low of $79.12 and a 12 month high of $106.88. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. The company's fifty day simple moving average is $94.38 and its 200 day simple moving average is $91.55. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.89 and a beta of 0.47.

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

Zimmer Biomet Announces Dividend

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

About Zimmer Biomet

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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