Sound Shore Management Inc. CT Has $95.14 Million Stake in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Sound Shore Management increased its Zimmer Biomet stake by 23.7% in Q1, buying 201,445 more shares and bringing its holding to 1,052,202 shares valued at about $95.14 million.
• Zimmer Biomet continues to attract heavy institutional interest, with hedge funds and other investors owning 88.89% of the company’s stock.
• The company recently beat quarterly expectations, reporting $2.09 EPS on $2.09 billion in revenue, while analysts currently rate the stock a Hold with a consensus price target of $100.70.

Sound Shore Management Inc. CT lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 23.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,052,202 shares of the medical equipment provider's stock after purchasing an additional 201,445 shares during the quarter. Zimmer Biomet comprises 3.2% of Sound Shore Management Inc. CT's portfolio, making the stock its 6th largest position. Sound Shore Management Inc. CT owned approximately 0.54% of Zimmer Biomet worth $95,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ZBH. M&T Bank Corp increased its position in Zimmer Biomet by 15,705.6% in the fourth quarter. M&T Bank Corp now owns 3,571,595 shares of the medical equipment provider's stock worth $321,158,000 after buying an additional 3,548,998 shares during the period. Norges Bank bought a new stake in Zimmer Biomet in the fourth quarter valued at $221,234,000. Franklin Resources Inc. boosted its holdings in shares of Zimmer Biomet by 43.2% during 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 period. Auto Owners Insurance Co grew its position in shares of Zimmer Biomet by 8,892.0% during the fourth quarter. Auto Owners Insurance Co now owns 2,009,712 shares of the medical equipment provider's stock worth $180,713,000 after acquiring an additional 1,987,362 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Zimmer Biomet by 276.6% during the second quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider's stock worth $118,627,000 after acquiring an additional 955,284 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citizens Jmp dropped their price objective on shares of Zimmer Biomet from $120.00 to $105.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 target price on shares of Zimmer Biomet in a research note on Wednesday, April 29th. JPMorgan Chase & Co. decreased their target price on shares of Zimmer Biomet from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, April 29th. Robert W. Baird set a $92.00 price target on Zimmer Biomet in a report on Wednesday, April 29th. Finally, BTIG Research reiterated a "neutral" rating on shares of Zimmer Biomet in a research report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $100.70.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $91.18 on Monday. The stock has a fifty day moving average price of $87.17 and a two-hundred day moving average price of $89.82. 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 firm has a market cap of $17.64 billion, a P/E ratio of 23.68, a PEG ratio of 2.68 and a beta of 0.46. Zimmer Biomet Holdings, Inc. has a 1 year low of $79.12 and a 1 year high of $108.29.

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

Zimmer Biomet Announces Dividend

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

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the insider directly owned 27,251 shares in the company, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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