USS Investment Management Ltd Buys 3,642 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• USS Investment Management Ltd increased its position in Zimmer Biomet Holdings by 7.8%, owning 50,466 shares valued at approximately $5.7 million as of the latest SEC filing.
• Analysts have set varied price targets for Zimmer Biomet, with UBS raising its target from $91.00 to $96.00, while Royal Bank of Canada increased theirs from $112.00 to $115.00, reflecting mixed sentiment on the stock.
• Zimmer Biomet reported $2.07 earnings per share for the last quarter, surpassing estimates, and has set its FY 2025 target between 8.100-8.300 EPS, indicating positive growth expectations.

USS Investment Management Ltd lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,466 shares of the medical equipment provider's stock after purchasing an additional 3,642 shares during the period. USS Investment Management Ltd's holdings in Zimmer Biomet were worth $5,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Zimmer Biomet by 0.7% during the first quarter. Vanguard Group Inc. now owns 23,052,925 shares of the medical equipment provider's stock worth $2,609,130,000 after purchasing an additional 166,763 shares during the period. Dodge & Cox raised its position in shares of Zimmer Biomet by 2.3% during the first quarter. Dodge & Cox now owns 19,564,454 shares of the medical equipment provider's stock worth $2,214,305,000 after purchasing an additional 446,018 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Zimmer Biomet by 236.0% during the first quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock valued at $517,039,000 after buying an additional 3,208,596 shares in the last quarter. JPMorgan Chase & Co. raised its position in Zimmer Biomet by 251.3% during the first quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock valued at $235,571,000 after buying an additional 1,488,918 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Zimmer Biomet by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,058,898 shares of the medical equipment provider's stock valued at $233,009,000 after buying an additional 58,060 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on ZBH. Raymond James Financial upped their price target 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 price target 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. UBS Group upped their price target on Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Royal Bank Of Canada upped their price target on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $111.00.

Insider Activity

In other news, SVP Lori Winkler sold 1,500 shares of the company's stock in a transaction dated Monday, September 8th. The stock was 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 owned 6,833 shares in the company, valued at approximately $711,656.95. This represents a 18.00% decrease in their position. The transaction was disclosed in a legal 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 1.0%

NYSE ZBH traded down $1.06 on Friday, reaching $103.20. The stock had a trading volume of 499,755 shares, compared to its average volume of 1,984,629. The business has a 50 day moving average price of $99.27 and a 200 day moving average price of $99.62. 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 company has a market capitalization of $20.44 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 2.35 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly 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. 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 firm's revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Zimmer Biomet's dividend payout ratio is 23.36%.

Zimmer Biomet Company 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.