Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP reduced its stake in Zimmer Biomet Holdings by 50.1%, now owning 480,504 shares valued at approximately $54.4 million as reported in a recent SEC filing.
• Zimmer Biomet announced a quarterly dividend of $0.24 per share, set to be paid on October 31st, with an annualized yield of 0.9%.
• The company reported $2.07 earnings per share for the latest quarter, exceeding analyst expectations, and projected 8.100-8.300 EPS for FY 2025.

Woodline Partners LP decreased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 50.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 480,504 shares of the medical equipment provider's stock after selling 482,403 shares during the quarter. Woodline Partners LP owned approximately 0.24% of Zimmer Biomet worth $54,383,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC purchased a new stake in shares of Zimmer Biomet during the first quarter worth about $269,000. Keybank National Association OH boosted its position in shares of Zimmer Biomet by 61.2% during the first quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock valued at $1,620,000 after buying an additional 5,434 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Zimmer Biomet by 26.4% during the first quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock valued at $35,800,000 after buying an additional 66,114 shares during the period. Kingswood Wealth Advisors LLC boosted its position in shares of Zimmer Biomet by 20.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock valued at $295,000 after buying an additional 435 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of Zimmer Biomet by 13.9% during the first quarter. QRG Capital Management Inc. now owns 6,775 shares of the medical equipment provider's stock valued at $767,000 after buying an additional 827 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Evercore ISI lowered their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research report on Tuesday, July 8th. Royal Bank Of Canada boosted their price objective on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Raymond James Financial boosted their price objective on shares of Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, UBS Group boosted their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Zimmer Biomet has a consensus rating of "Hold" and a consensus target price of $111.00.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the completion of the sale, the senior vice president directly owned 6,833 shares of the company's stock, valued at approximately $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Down 1.1%

NYSE ZBH traded down $1.11 during trading on Friday, reaching $103.15. 883,462 shares of the company's stock traded hands, compared to its average volume of 1,987,127. 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 firm has a market cap of $20.43 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.35 and a beta of 0.68. The company's 50 day simple moving average is $99.27 and its two-hundred day simple moving average is $99.62. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $114.72.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.09. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. Zimmer Biomet's dividend payout ratio (DPR) is 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.