Prudential PLC Cuts Stock Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Prudential PLC significantly reduced its stake in Zimmer Biomet Holdings by 95.5% in the first quarter, owning only 3,354 shares after selling 70,627 shares.
• Several institutional investors have recently purchased new positions in Zimmer Biomet, contributing to the firm having 88.89% institutional ownership of its stock.
• Zimmer Biomet reported earnings of $2.07 per share for the latest quarter, exceeding analysts' expectations of $1.98, while revenue increased by 7.0% year-over-year.

Prudential PLC decreased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 95.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,354 shares of the medical equipment provider's stock after selling 70,627 shares during the quarter. Prudential PLC's holdings in Zimmer Biomet were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position 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 buying an additional 1,488,918 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Zimmer Biomet during the 1st quarter worth approximately $155,891,000. Nuveen Asset Management LLC boosted its position in shares of Zimmer Biomet by 191.8% during the 4th 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 during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Zimmer Biomet in the fourth quarter valued at $67,954,000. Finally, Boston Trust Walden Corp purchased a new position in shares of Zimmer Biomet in the first quarter valued at $54,108,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Trading Up 1.3%

ZBH stock traded up $1.3780 during trading on Wednesday, hitting $105.6880. The company had a trading volume of 1,844,246 shares, compared to its average volume of 2,066,551. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71. The company has a 50 day simple moving average of $94.74 and a 200-day simple moving average of $99.30. The firm has a market capitalization of $20.94 billion, a P/E ratio of 25.71, a PEG ratio of 2.02 and a beta of 0.68. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, topping 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders 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 yield of 0.9%. Zimmer Biomet's dividend payout ratio (DPR) is 23.36%.

Analyst Upgrades and Downgrades

Several research firms have commented on ZBH. Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Morgan Stanley lowered their price target on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Evercore ISI reduced their price objective on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 8th. Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Finally, Royal Bank Of Canada boosted their target price on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Zimmer Biomet has an average rating of "Hold" and a consensus price target of $111.44.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the 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 transaction, the insider directly owned 20,424 shares in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% 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.