Zimmer Biomet Holdings, Inc. $ZBH Shares Acquired by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue increased its stake in Zimmer Biomet Holdings, Inc. by 89.8% in Q2, acquiring an additional 20,945 shares, bringing its total holdings to 44,261 shares valued at approximately $4.036 million.
• Zimmer Biomet reported quarterly earnings of $2.07 per share, exceeding analyst estimates, with revenue of $2.08 billion, a 7.0% increase year-over-year.
• The company announced a quarterly dividend of $0.24 per share, resulting in an annualized yield of 1.0%, with payment scheduled for October 31st.

State of Alaska Department of Revenue lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 89.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,261 shares of the medical equipment provider's stock after purchasing an additional 20,945 shares during the period. State of Alaska Department of Revenue's holdings in Zimmer Biomet were worth $4,036,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ST Germain D J Co. Inc. lifted its holdings in Zimmer Biomet by 11.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 113,873 shares of the medical equipment provider's stock worth $10,386,000 after buying an additional 11,801 shares during the last quarter. Dakota Wealth Management raised its position in shares of Zimmer Biomet by 9.5% during the 2nd quarter. Dakota Wealth Management now owns 10,721 shares of the medical equipment provider's stock valued at $978,000 after acquiring an additional 930 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in Zimmer Biomet by 30.1% during the second quarter. Perigon Wealth Management LLC now owns 2,452 shares of the medical equipment provider's stock worth $224,000 after purchasing an additional 568 shares during the last quarter. Missouri Trust & Investment Co boosted its holdings in Zimmer Biomet by 20.7% in the second quarter. Missouri Trust & Investment Co now owns 14,805 shares of the medical equipment provider's stock worth $1,350,000 after purchasing an additional 2,537 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Zimmer Biomet by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 66,064 shares of the medical equipment provider's stock valued at $6,026,000 after purchasing an additional 449 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $98.13 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $114.72. The business has a fifty day simple moving average of $100.69 and a 200 day simple moving average of $98.98. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 2.26 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The company 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 quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share 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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Zimmer Biomet's payout ratio is currently 23.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ZBH shares. Redburn Partners set a $130.00 price target on shares of Zimmer Biomet in a report on Thursday, September 18th. Raymond James Financial boosted their price objective on Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Evercore ISI dropped their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. Stifel Nicolaus boosted their price target on shares of Zimmer Biomet from $115.00 to $118.00 and gave the company a "buy" rating in a report on Friday, September 19th. Finally, UBS Group increased their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of "Moderate Buy" and an average price target of $113.16.

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the transaction, the senior vice president owned 6,833 shares in the company, valued at approximately $711,656.95. This trade represents a 18.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.

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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