Sound Shore Management Inc. CT Has $76.50 Million Stock Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Sound Shore Management cut its Zimmer Biomet stake by 5.1% in Q4, but still held 850,757 shares worth about $76.5 million at the end of the period.
• Zimmer Biomet reported strong quarterly results, with EPS of $2.09 beating estimates and revenue of $2.09 billion slightly topping forecasts; revenue rose 9.3% year over year.
• The company also announced a quarterly dividend of $0.24 per share and drew a mixed analyst outlook, with an average Hold rating and an average price target of $102.70.

Sound Shore Management Inc. CT trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 850,757 shares of the medical equipment provider's stock after selling 45,527 shares during the quarter. Zimmer Biomet makes up approximately 2.4% of Sound Shore Management Inc. CT's portfolio, making the stock its 28th largest position. Sound Shore Management Inc. CT owned approximately 0.43% of Zimmer Biomet worth $76,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings 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 buying an additional 192,517 shares during the period. Dodge & Cox boosted its holdings in shares of Zimmer Biomet by 5.1% in the third quarter. Dodge & Cox now owns 23,216,173 shares of the medical equipment provider's stock worth $2,286,793,000 after buying an additional 1,118,710 shares during the period. Capital International Investors boosted its holdings in shares of 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 worth $743,749,000 after buying an additional 778,467 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 5,233,834 shares of the medical equipment provider's stock worth $468,821,000 after buying an additional 36,611 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Zimmer Biomet by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 3,789,200 shares of the medical equipment provider's stock worth $373,239,000 after buying an additional 58,335 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

ZBH stock opened at $85.11 on Thursday. 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 stock has a market cap of $16.47 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.94 and a beta of 0.47. The firm has a 50 day simple moving average of $87.68 and a 200 day simple moving average of $90.52. Zimmer Biomet Holdings, Inc. has a 52 week low of $79.12 and a 52 week high of $108.29.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.86 by $0.23. The business had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $1.81 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be paid a $0.24 dividend. The ex-dividend date is Thursday, June 25th. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. Zimmer Biomet's payout ratio is 24.94%.

Analyst Upgrades and Downgrades

ZBH has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Zimmer Biomet from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, April 7th. Wells Fargo & Company decreased 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 report on Wednesday, April 29th. Truist Financial restated a "hold" rating and set a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a report on Wednesday, April 29th. Citigroup decreased 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. Finally, Leerink Partners started coverage on shares of Zimmer Biomet in a report on Monday, April 13th. They set a "hold" rating and a $101.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock 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 Zimmer Biomet stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares in the company, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lori Winkler sold 2,650 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $94.66, for a total transaction of $250,849.00. Following the completion of the sale, the senior vice president owned 10,224 shares of the company's stock, valued at $967,803.84. This trade represents a 20.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.28% of the stock is owned by insiders.

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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