Sumitomo Mitsui Trust Group Inc. Sells 43,614 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Sumitomo Mitsui Trust Group reduced its Zimmer Biomet stake by 8.4% in the first quarter, selling 43,614 shares and leaving it with 476,834 shares worth about $43.1 million.
• Zimmer Biomet reported strong quarterly results, with EPS of $2.09 beating estimates and revenue of $2.09 billion slightly ahead of expectations; revenue rose 9.3% year over year.
• The company also announced a quarterly dividend of $0.24 per share and received mixed analyst sentiment, with a consensus rating of “Hold” and an average target price of $102.33.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,834 shares of the medical equipment provider's stock after selling 43,614 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Zimmer Biomet worth $43,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. DV Equities LLC bought a new position in shares of Zimmer Biomet in the fourth quarter worth $25,000. Monetary Solutions Ltd bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $30,000. Gen Wealth Partners Inc purchased a new stake in Zimmer Biomet during the 4th quarter worth about $31,000. Flagship Harbor Advisors LLC bought a new position in Zimmer Biomet in the 4th quarter worth about $32,000. Finally, Grove Bank & Trust boosted its stake in Zimmer Biomet by 431.6% in the 4th quarter. Grove Bank & Trust now owns 404 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 328 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of Zimmer Biomet stock in a transaction 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 transaction, the insider owned 27,251 shares in the company, valued at $2,252,022.64. This trade represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.28% of the company's stock.

Zimmer Biomet Price Performance

ZBH opened at $91.52 on Monday. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $17.70 billion, a P/E ratio of 23.77, a PEG ratio of 2.69 and a beta of 0.46. The stock has a 50-day moving average price of $86.25 and a 200-day moving average price of $89.76. Zimmer Biomet Holdings, Inc. has a 12-month low of $79.12 and a 12-month high of $108.29.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.23. The company had revenue of $2.09 billion during 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%.Zimmer Biomet's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Zimmer Biomet's dividend payout ratio is 24.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ZBH shares. BMO Capital Markets started coverage on Zimmer Biomet in a research report on Wednesday. They set a "market perform" rating and a $95.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of Zimmer Biomet from $110.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Wells Fargo & Company decreased their target price on shares of Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" 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. Finally, Wall Street Zen lowered shares of Zimmer Biomet from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $102.33.

Zimmer Biomet 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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