Wellington Management Group LLP Acquires 25,713 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Wellington Management Group LLP increased its stake in Zimmer Biomet Holdings, acquiring 25,713 shares and raising its total holdings by 230.6% during the first quarter, now valued at approximately $4.17 million.
• Zimmer Biomet reported strong earnings of $2.07 per share for the last quarter, exceeding expectations by $0.09, while its revenue increased by 7.0% year-over-year.
• The company announced a quarterly dividend of $0.24 per share, representing an annualized yield of 0.9%, with the payout ratio currently at 23.36%.

Wellington Management Group LLP increased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 230.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,865 shares of the medical equipment provider's stock after purchasing an additional 25,713 shares during the period. Wellington Management Group LLP's holdings in Zimmer Biomet were worth $4,172,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Zimmer Biomet by 251.3% in the first quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock worth $235,571,000 after purchasing an additional 1,488,918 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Zimmer Biomet during the first quarter valued at about $155,891,000. Nuveen Asset Management LLC increased its holdings in shares of Zimmer Biomet by 191.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after acquiring an additional 913,310 shares in the last quarter. Boston Trust Walden Corp acquired a new position in shares of Zimmer Biomet during the first quarter valued at about $54,108,000. Finally, GAMMA Investing LLC increased its holdings in shares of Zimmer Biomet by 17,147.9% during the first quarter. GAMMA Investing LLC now owns 396,356 shares of the medical equipment provider's stock valued at $44,860,000 after acquiring an additional 394,058 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $106.11 on Friday. The stock has a 50-day simple moving average of $97.09 and a 200-day simple moving average of $99.47. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. The stock has a market capitalization of $21.02 billion, a PE ratio of 25.82, a PEG ratio of 2.07 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted 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 firm had revenue of $2.08 billion during 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 firm's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. Zimmer Biomet's payout ratio is presently 23.36%.

Wall Street Analyst Weigh In

ZBH has been the topic of several research reports. Royal Bank Of Canada increased their price target on shares of Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. The Goldman Sachs Group dropped their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Raymond James Financial raised their price objective on Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of "Hold" and an average price target of $111.44.

Insider Activity

In other 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.39% of the company's stock.

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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