Zimmer Biomet Holdings, Inc. $ZBH Position Reduced by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Zimmer Biomet stake by 2.4% in the first quarter, though it still held about 1.21 million shares valued at roughly $109.8 million.
• Zimmer Biomet reported better-than-expected quarterly results, with EPS of $2.09 versus the $1.86 estimate and revenue of $2.09 billion, up 9.3% year over year. The company also reaffirmed FY 2026 EPS guidance of 8.40 to 8.55.
• The company announced a quarterly dividend of $0.24 per share and saw mixed analyst sentiment, with several firms trimming price targets and the Street’s average rating sitting at Hold with a $100.70 price target.

Bank of New York Mellon Corp trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 2.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,214,337 shares of the medical equipment provider's stock after selling 29,481 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of Zimmer Biomet worth $109,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. DV Equities LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at $25,000. Monetary Solutions Ltd acquired a new position in Zimmer Biomet during the fourth quarter worth about $30,000. Gen Wealth Partners Inc bought a new stake in Zimmer Biomet in the fourth quarter worth about $31,000. Flagship Harbor Advisors LLC bought a new stake in Zimmer Biomet in the fourth quarter worth about $32,000. Finally, Grove Bank & Trust lifted its holdings in Zimmer Biomet by 431.6% in the 4th quarter. Grove Bank & Trust now owns 404 shares of the medical equipment provider's stock valued at $36,000 after acquiring an additional 328 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the sale, the insider owned 27,251 shares of the company's stock, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.28% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Down 1.6%

ZBH stock opened at $89.69 on Tuesday. Zimmer Biomet Holdings, Inc. has a 12-month low of $79.12 and a 12-month high of $108.29. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 2.68 and a beta of 0.46. The company has a 50 day moving average of $87.37 and a two-hundred day moving average of $89.82.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, beating the consensus estimate of $1.86 by $0.23. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. Zimmer Biomet's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. On average, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet's dividend payout ratio is presently 24.94%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings restated a "hold (c-)" rating on shares of Zimmer Biomet in a report on Monday, July 6th. Robert W. Baird set a $92.00 price target on shares of Zimmer Biomet in a research report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price target on Zimmer Biomet from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, April 29th. Finally, Citigroup cut their price objective on Zimmer Biomet from $95.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average price target of $100.70.

Zimmer Biomet Profile

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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