Sit Investment Associates Inc. Has $81,000 Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Sit Investment Associates sharply reduced its Zimmer Biomet stake by 97.7% in the fourth quarter, leaving it with 900 shares worth about $81,000.
• Zimmer Biomet recently reported strong quarterly results, with EPS of $2.09 beating estimates and revenue of $2.09 billion topping expectations; revenue rose 9.3% year over year.
• The company also announced a quarterly dividend of $0.24 per share, and analyst sentiment remains cautious overall with an average rating of Hold and a consensus price target of $102.70.

Sit Investment Associates Inc. decreased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 97.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 900 shares of the medical equipment provider's stock after selling 37,858 shares during the quarter. Sit Investment Associates Inc.'s holdings in Zimmer Biomet were worth $81,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dodge & Cox grew its position in shares of Zimmer Biomet by 1.3% in the 4th quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider's stock valued at $2,113,736,000 after buying an additional 290,676 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Zimmer Biomet by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,483,741 shares of the medical equipment provider's stock worth $2,111,658,000 after acquiring an additional 192,517 shares during the period. State Street Corp lifted its stake in shares of Zimmer Biomet by 2.3% in the fourth quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider's stock worth $795,814,000 after acquiring an additional 195,214 shares during the period. Capital International Investors boosted its holdings in Zimmer Biomet by 11.5% in the third quarter. Capital International Investors now owns 7,550,754 shares of the medical equipment provider's stock valued at $743,749,000 after acquiring an additional 778,467 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider's stock valued at $601,204,000 after acquiring an additional 2,017,857 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 0.2%

ZBH stock opened at $88.13 on Friday. The stock's 50 day simple moving average is $87.24 and its 200 day simple moving average is $90.13. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $79.12 and a fifty-two week high of $108.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. The company has a market cap of $17.05 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.59 and a beta of 0.47.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.23. The firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.07 billion. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.49 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, June 25th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $0.96 annualized dividend and a yield of 1.1%. Zimmer Biomet's dividend payout ratio (DPR) is presently 24.94%.

Analyst Ratings Changes

Several research firms have issued reports on ZBH. Citigroup lowered their price target on shares of Zimmer Biomet from $95.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday, May 28th. Canaccord Genuity Group set a $83.00 price objective on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Wells Fargo & Company lowered their target price on shares of Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. Leerink Partners assumed coverage on shares of Zimmer Biomet in a report on Monday, April 13th. They issued a "hold" rating and a $101.00 target price on the stock. Finally, Truist Financial reaffirmed a "hold" rating and set a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $102.70.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider owned 27,251 shares in the company, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.28% of the company's stock.

Zimmer Biomet Company Profile

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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