Vanguard Group Inc. Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Vanguard Group Inc. increased its stake in Zimmer Biomet Holdings to over 23 million shares, representing an ownership of 11.65% valued at approximately $2.61 billion.
• In its latest earnings report, Zimmer Biomet reported $2.07 earnings per share, exceeding consensus estimates, and experienced a 7% increase in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $0.24 per share, translating to an annualized yield of 1.0% with a dividend payout ratio of 21.24%.

Vanguard Group Inc. grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,052,925 shares of the medical equipment provider's stock after buying an additional 166,763 shares during the period. Vanguard Group Inc. owned 11.65% of Zimmer Biomet worth $2,609,130,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MGO One Seven LLC lifted 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 purchasing an additional 110 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Zimmer Biomet by 0.5% in 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 in the last quarter. Curbstone Financial Management Corp lifted its holdings in Zimmer Biomet by 3.4% in 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 in the last quarter. Roberts Wealth Advisors LLC lifted its holdings in Zimmer Biomet by 0.8% in 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 in the last quarter. Finally, Wesbanco Bank Inc. lifted its holdings in Zimmer Biomet by 0.8% in 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 in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $99.14 on Friday. The business's 50 day moving average price is $93.34 and its 200-day moving average price is $99.80. The company has a market cap of $19.61 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.30 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.46 and a current ratio of 1.87. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.09. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $2.01 earnings per share. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Zimmer Biomet's dividend payout ratio (DPR) is 21.24%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JMP Securities lowered their price target 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. UBS Group set a $96.00 price objective on Zimmer Biomet and gave the stock a "sell" rating in a report on Friday. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price objective on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Morgan Stanley decreased their price objective on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $111.44.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider owned 20,424 shares of the company's stock, valued at approximately $1,940,280. The trade was 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 link. Company insiders own 1.39% of the company's stock.

About Zimmer Biomet

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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