Zimmer Biomet Holdings, Inc. $ZBH Shares Purchased by Swiss National Bank

Key Points

• Swiss National Bank raised its stake in Zimmer Biomet by 7.1% in the first quarter, buying 38,800 additional shares and bringing its total holding to 581,700 shares worth about $52.6 million.
• Zimmer Biomet reported strong quarterly results, with EPS of $2.09 beating estimates and revenue of $2.09 billion topping forecasts; revenue also rose 9.3% year over year.
• The company declared a quarterly dividend of $0.24 per share, while analysts currently have a consensus rating of Hold with a target price of $100.70.

Swiss National Bank increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 581,700 shares of the medical equipment provider's stock after purchasing an additional 38,800 shares during the quarter. Swiss National Bank owned approximately 0.30% of Zimmer Biomet worth $52,597,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in Zimmer Biomet by 9.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider's stock valued at $14,495,000 after acquiring an additional 13,883 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Zimmer Biomet by 257.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider's stock worth $3,091,000 after purchasing an additional 24,748 shares in the last quarter. Morningstar Investment Management LLC boosted its stake in shares of Zimmer Biomet by 235.4% in the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider's stock valued at $5,204,000 after purchasing an additional 40,610 shares during the period. Douglas Lane & Associates LLC grew its holdings in shares of Zimmer Biomet by 6.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 460,178 shares of the medical equipment provider's stock valued at $41,379,000 after purchasing an additional 28,818 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Zimmer Biomet by 67.6% in the fourth quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider's stock valued at $4,183,000 after purchasing an additional 18,769 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Down 0.1%

Shares of Zimmer Biomet stock opened at $88.79 on Thursday. Zimmer Biomet Holdings, Inc. has a 52-week low of $79.12 and a 52-week high of $108.29. The company has a 50 day moving average of $87.61 and a 200 day moving average of $89.80. 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 capitalization of $17.18 billion, a P/E ratio of 23.06, a P/E/G ratio of 2.62 and a beta of 0.46.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. The business had revenue of $2.09 billion during 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%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the company's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the transaction, the insider owned 27,251 shares in the company, valued at approximately $2,252,022.64. This represents a 15.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.28% of the company's stock.

Analyst Upgrades and Downgrades

ZBH has been the topic of a number of research reports. BMO Capital Markets assumed coverage on shares of Zimmer Biomet in a report on Wednesday, July 8th. They set a "market perform" rating and a $95.00 target price on the stock. Citizens Jmp dropped their price target on shares of Zimmer Biomet from $120.00 to $105.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 29th. Leerink Partners initiated coverage on Zimmer Biomet in a research report on Monday, April 13th. They set a "hold" rating and a $101.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 29th. Finally, Truist Financial reiterated a "hold" rating and issued a $92.00 target price (down from $98.00) on shares of Zimmer Biomet in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $100.70.

About Zimmer Biomet

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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