Van ECK Associates Corp Sells 262,266 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Van ECK Associates Corp trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,501,654 shares of the medical equipment provider's stock after selling 262,266 shares during the period. Van ECK Associates Corp owned 1.84% of Zimmer Biomet worth $301,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Zimmer Biomet by 9.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider's stock valued at $14,495,000 after purchasing an additional 13,883 shares in the last quarter. Morningstar Investment Management LLC increased its stake in shares of Zimmer Biomet by 235.4% during the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider's stock worth $5,204,000 after buying an additional 40,610 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Zimmer Biomet by 257.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider's stock valued at $3,091,000 after acquiring an additional 24,748 shares in the last quarter. Robertson Stephens Wealth Management LLC purchased a new position in Zimmer Biomet in the fourth quarter worth approximately $1,131,000. Finally, CIBC Asset Management Inc grew its holdings in Zimmer Biomet by 67.6% during the 4th quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider's stock worth $4,183,000 after acquiring an additional 18,769 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Zimmer Biomet from $101.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. BMO Capital Markets reiterated a "market perform" rating and issued a $96.00 price objective on shares of Zimmer Biomet in a report on Thursday, August 6th. Robert W. Baird set a $104.00 target price on Zimmer Biomet in a research note on Thursday, August 6th. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Zimmer Biomet from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $104.42.

Zimmer Biomet Price Performance

ZBH stock opened at $101.10 on Friday. The company has a current ratio of 1.69, a quick ratio of 0.94 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $19.28 billion, a P/E ratio of 24.60, a PEG ratio of 2.70 and a beta of 0.45. The business has a 50 day simple moving average of $93.88 and a 200-day simple moving average of $91.45. Zimmer Biomet Holdings, Inc. has a twelve month low of $79.12 and a twelve month high of $106.88.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 EPS for the quarter, beating the consensus estimate of $2.01 by $0.06. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $2.07 EPS. Zimmer Biomet's revenue for the quarter was up 4.8% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.54 EPS for the current year.

About Zimmer Biomet

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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