SVB Wealth LLC Reduces Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• SVB Wealth LLC has reduced its stake in Zimmer Biomet Holdings, Inc. by 28.6%, owning 6,277 shares worth approximately $710,000 after selling 2,509 shares in the first quarter.
• Analysts have recently cut their price targets for ZBH, with Robert W. Baird lowering it from $130.00 to $115.00, while Goldman Sachs reduced their target from $120.00 to $104.00.
• Zimmer Biomet reported quarterly earnings of $2.07 EPS, surpassing the consensus estimate by $0.09, along with a revenue increase of 7.0% year-over-year.

SVB Wealth LLC trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,277 shares of the medical equipment provider's stock after selling 2,509 shares during the period. SVB Wealth LLC's holdings in Zimmer Biomet were worth $710,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter worth $204,000. Jump Financial LLC boosted its stake in shares of Zimmer Biomet by 63.8% in the 4th quarter. Jump Financial LLC now owns 3,268 shares of the medical equipment provider's stock worth $345,000 after buying an additional 1,273 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Zimmer Biomet by 72.6% in the 4th quarter. NewEdge Advisors LLC now owns 4,713 shares of the medical equipment provider's stock worth $498,000 after buying an additional 1,983 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Zimmer Biomet by 10.8% in the 4th quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock worth $10,144,000 after buying an additional 9,341 shares during the last quarter. Finally, MGO One Seven LLC boosted its stake in shares of Zimmer Biomet by 5.1% in the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock worth $238,000 after buying an additional 110 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZBH has been the topic of a number of recent research reports. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. Robert W. Baird decreased their target price on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company decreased their target price on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. JMP Securities decreased their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their target price on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and an average price target of $111.44.

Insider Buying and Selling

In related news, insider Sang Yi sold 1,000 shares of Zimmer Biomet 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 completion of the transaction, the insider owned 20,424 shares in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.39% of the company's stock.

Zimmer Biomet Price Performance

Shares of ZBH stock traded down $1.74 during trading hours on Thursday, hitting $105.05. The stock had a trading volume of 1,092,851 shares, compared to its average volume of 2,037,242. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The stock's 50-day moving average price is $96.50 and its two-hundred day moving average price is $99.39. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 2.12 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued 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 firm 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 was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

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

Zimmer Biomet Profile

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.