Royal Bank of Canada Boosts Stake in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Royal Bank of Canada increased its stake in Zimmer Biomet Holdings, owning approximately $47.67 million worth of shares after a 21.1% rise in the first quarter.
• Zimmer Biomet reported a quarterly earnings per share of $2.07, exceeding analyst estimates of $1.98, with a revenue of $2.08 billion.
• The company announced a $0.24 quarterly dividend to be paid on October 31st, reflecting an annualized dividend yield of 0.9%.

Royal Bank of Canada boosted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 21.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,222 shares of the medical equipment provider's stock after acquiring an additional 73,296 shares during the period. Royal Bank of Canada owned 0.21% of Zimmer Biomet worth $47,674,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ZBH. Garde Capital Inc. acquired a new position in Zimmer Biomet during the 1st quarter valued at about $29,000. Menard Financial Group LLC bought a new stake in Zimmer Biomet in the fourth quarter worth $30,000. Washington Trust Advisors Inc. acquired a new stake in Zimmer Biomet in the 1st quarter worth approximately $30,000. Columbia River Financial Group LLC bought a new position in shares of Zimmer Biomet in the first quarter valued at approximately $30,000. Finally, Accent Capital Management LLC acquired a new stake in Zimmer Biomet during the first quarter worth about $35,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

ZBH stock traded down $1.27 during midday trading on Wednesday, hitting $102.59. The company's stock had a trading volume of 954,065 shares, compared to its average volume of 1,994,581. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $114.72. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. The stock's 50-day moving average price is $98.89 and its 200 day moving average price is $99.61. The stock has a market cap of $20.32 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 2.06 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the business earned $2.01 earnings per share. Zimmer Biomet'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. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Zimmer Biomet's dividend payout ratio (DPR) is presently 23.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a report on Friday, August 8th. Evercore ISI decreased their price objective on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a report on Tuesday, July 8th. Raymond James Financial raised their target price on shares of Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $111.00.

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.