Zimmer Biomet Holdings, Inc. $ZBH Shares Acquired by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in Zimmer Biomet Holdings, Inc. by 34.4%, owning a total of 26,819 shares valued at approximately $2.4 million by the end of the second quarter.
• Zimmer Biomet's latest earnings report showed an EPS of $2.07, exceeding the estimate of $1.98, with a 7.0% revenue growth compared to the previous year.
• The company has declared a quarterly dividend of $0.24 to be paid on October 31st, resulting in a 1.0% yield.

Truist Financial Corp lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 34.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,819 shares of the medical equipment provider's stock after purchasing an additional 6,867 shares during the quarter. Truist Financial Corp's holdings in Zimmer Biomet were worth $2,446,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ZBH. Brighton Jones LLC acquired a new stake in Zimmer Biomet in the 4th quarter valued at about $204,000. Farther Finance Advisors LLC grew its stake in Zimmer Biomet by 33.9% in the 1st quarter. Farther Finance Advisors LLC now owns 7,300 shares of the medical equipment provider's stock valued at $820,000 after acquiring an additional 1,849 shares during the last quarter. GAMMA Investing LLC grew its stake in Zimmer Biomet by 52.4% in the 1st quarter. GAMMA Investing LLC now owns 3,502 shares of the medical equipment provider's stock valued at $396,000 after acquiring an additional 1,204 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Zimmer Biomet by 0.8% in the 1st quarter. Handelsbanken Fonder AB now owns 138,442 shares of the medical equipment provider's stock valued at $15,669,000 after acquiring an additional 1,063 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Zimmer Biomet by 0.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,692 shares of the medical equipment provider's stock valued at $3,247,000 after acquiring an additional 202 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Lori Winkler sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $104.15, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.39% of the company's stock.

Zimmer Biomet Price Performance

ZBH opened at $97.38 on Friday. The company's 50 day simple moving average is $101.22 and its 200 day simple moving average is $98.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $114.72. The stock has a market capitalization of $19.29 billion, a PE ratio of 23.69, a P/E/G ratio of 2.26 and a beta of 0.67.

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

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 annualized dividend and a yield of 1.0%. Zimmer Biomet's dividend payout ratio (DPR) is presently 23.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group increased their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research note on Friday, August 8th. Evercore ISI decreased their price target on shares of Zimmer Biomet from $106.00 to $104.00 and set an "in-line" rating on the stock in a research note on Tuesday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Zimmer Biomet in a research note on Wednesday. Royal Bank Of Canada raised their price target on shares of Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Raymond James Financial raised their price target on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $112.89.

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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