Sandler Capital Management Invests $4.73 Million in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Sandler Capital Management has made a new investment of approximately $4.73 million in Zimmer Biomet Holdings, acquiring 41,804 shares, which constitutes about 1.2% of its investment portfolio.
• The company reported a Q2 earnings per share (EPS) of $2.07, surpassing analyst expectations, with revenues of $2.08 billion for the quarter, marking a 7% increase year-over-year.
• ZBH recently announced a quarterly dividend of $0.24 per share, with a payout date set for October 31st, reflecting an annualized dividend yield of 0.9%.

Sandler Capital Management purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,804 shares of the medical equipment provider's stock, valued at approximately $4,731,000. Zimmer Biomet accounts for about 1.2% of Sandler Capital Management's investment portfolio, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZBH. Garde Capital Inc. purchased a new stake in Zimmer Biomet in the first quarter worth $29,000. Menard Financial Group LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth $30,000. Washington Trust Advisors Inc. purchased a new stake in shares of Zimmer Biomet in the first quarter worth $30,000. Columbia River Financial Group LLC purchased a new stake in shares of Zimmer Biomet in the first quarter worth $30,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Zimmer Biomet in the first quarter worth $35,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZBH. Evercore ISI cut their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 8th. Royal Bank Of Canada increased their target price on Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Canaccord Genuity Group cut their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Roth Capital reaffirmed a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Finally, UBS Group increased their price objective on Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $111.00.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded down $0.87 during trading on Tuesday, hitting $103.84. 1,282,597 shares of the company's stock traded hands, compared to its average volume of 1,220,309. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $114.72. The stock has a market capitalization of $20.57 billion, a P/E ratio of 25.27, a PEG ratio of 2.06 and a beta of 0.68. The business has a 50-day simple moving average of $98.89 and a 200-day simple moving average of $99.61.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.09. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company's stock.

About Zimmer Biomet

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.