Russell Investments Group Ltd. Acquires 9,758 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Russell Investments Group Ltd. increased its stake in Zimmer Biomet Holdings, Inc. by 13.3% during the 1st quarter, owning 82,897 shares valued at approximately $9.36 million.
• Zimmer Biomet reported a 7.0% increase in revenue year-over-year, with earnings per share of $2.07 for the latest quarter, beating estimates by $0.09.
• The company's quarterly dividend of $0.24 per share reflects an annualized dividend yield of 0.9% with a payout ratio of 23.36%.

Russell Investments Group Ltd. boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 13.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,897 shares of the medical equipment provider's stock after buying an additional 9,758 shares during the period. Russell Investments Group Ltd.'s holdings in Zimmer Biomet were worth $9,362,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Zimmer Biomet by 0.7% in the first quarter. Vanguard Group Inc. now owns 23,052,925 shares of the medical equipment provider's stock valued at $2,609,130,000 after buying an additional 166,763 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Zimmer Biomet by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider's stock valued at $1,559,147,000 after buying an additional 176,337 shares during the period. Northern Trust Corp lifted its holdings in Zimmer Biomet by 7.6% in the fourth quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider's stock valued at $250,367,000 after buying an additional 167,435 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 valued at $235,571,000 after buying an additional 1,488,918 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Zimmer Biomet by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,000,838 shares of the medical equipment provider's stock valued at $211,348,000 after purchasing an additional 126,151 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ZBH shares. The Goldman Sachs Group lowered their target price on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a "buy" rating in a research note on Tuesday, May 6th. JMP Securities lowered their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lowered their target price on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Morgan Stanley lowered their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $111.44.

Insiders Place Their Bets

In related news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the insider owned 20,424 shares of the company's stock, 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 hyperlink. Company insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Up 3.1%

Shares of ZBH stock traded up $3.2070 during trading hours on Friday, hitting $107.6270. 1,099,322 shares of the company were exchanged, compared to its average volume of 2,055,610. The business has a 50 day moving average of $95.19 and a two-hundred day moving average of $99.32. 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 52 week low of $89.22 and a 52 week high of $116.71. The company has a market capitalization of $21.32 billion, a PE ratio of 26.19, a PEG ratio of 2.08 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Analysts anticipate 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 was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were given a $0.24 dividend. 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%.

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.