US Bancorp DE Purchases 9,676 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• US Bancorp DE increased its holdings in Zimmer Biomet Holdings, Inc. by 12.5% in the 1st quarter, purchasing an additional 9,676 shares and bringing their total to 86,993 shares worth approximately $9.84 million.
• Multiple institutional investors, including MGO One Seven LLC and Janney Montgomery Scott LLC, have also increased their positions in Zimmer Biomet, reflecting strong institutional interest, as they now own nearly 89% of the company's stock.
• Zimmer Biomet recently announced earnings per share of $1.81 for the last quarter, surpassing analysts' expectations of $1.77, and reported a quarterly revenue of $1.91 billion.

US Bancorp DE increased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,993 shares of the medical equipment provider's stock after purchasing an additional 9,676 shares during the quarter. US Bancorp DE's holdings in Zimmer Biomet were worth $9,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MGO One Seven LLC boosted its holdings in 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. Janney Montgomery Scott LLC boosted its holdings in shares of Zimmer Biomet by 0.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock worth $2,903,000 after purchasing an additional 118 shares during the last quarter. Curbstone Financial Management Corp boosted its holdings in shares of Zimmer Biomet by 3.4% during the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock worth $483,000 after purchasing an additional 140 shares during the last quarter. Roberts Wealth Advisors LLC boosted its holdings in shares of Zimmer Biomet by 0.8% during the 1st quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider's stock worth $2,093,000 after purchasing an additional 152 shares during the last quarter. Finally, Wesbanco Bank Inc. boosted its holdings in shares of Zimmer Biomet by 0.8% during the 1st quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider's stock worth $2,265,000 after purchasing an additional 163 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZBH shares. Roth Capital upgraded Zimmer Biomet from a "neutral" rating to a "buy" rating and set a $135.00 target price on the stock in a report on Tuesday, July 15th. BTIG Research restated a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Truist Financial set a $101.00 target price on Zimmer Biomet in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Evercore ISI reduced their price target on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $111.39.

Zimmer Biomet Stock Down 1.1%

Shares of NYSE ZBH opened at $90.63 on Monday. The firm has a market cap of $17.93 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.12 and a beta of 0.68. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71. The business's 50 day moving average is $93.17 and its two-hundred day moving average is $100.19.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 earnings per share. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. Zimmer Biomet's payout ratio is presently 21.24%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider owned 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by insiders.

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.

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