Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC significantly reduced its stake in Zimmer Biomet Holdings, Inc. by 99.5% in Q2, holding only 8,699 shares worth approximately $818,000 after selling over 1.8 million shares.
• The company recently declared a quarterly dividend of $0.24 per share, reflecting an annualized yield of 0.9%, with payment set for October 31st.
• Analysts have mixed ratings on Zimmer Biomet, with one Strong Buy, nine Buy, eight Hold, and two Sell ratings, and a consensus target price of $111.94.

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 99.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,699 shares of the medical equipment provider's stock after selling 1,806,549 shares during the period. Allspring Global Investments Holdings LLC's holdings in Zimmer Biomet were worth $818,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Washington Trust Advisors Inc. purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $30,000. Columbia River Financial Group LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $30,000. Accent Capital Management LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $35,000. Cullen Frost Bankers Inc. increased its stake in shares of Zimmer Biomet by 1,452.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider's stock worth $37,000 after purchasing an additional 305 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $48,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ZBH. Rothschild Redb raised shares of Zimmer Biomet to a "strong-buy" rating in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Zimmer Biomet in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their price target on Zimmer Biomet from $115.00 to $118.00 and gave the company a "buy" rating in a report on Friday, September 19th. Evercore ISI cut their price target on Zimmer Biomet from $106.00 to $104.00 and set an "in-line" rating for the company in a report on Tuesday, October 7th. Finally, Roth Capital reiterated a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Zimmer Biomet has an average rating of "Hold" and a consensus target price of $111.94.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction 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 $711,656.95. This trade represents a 18.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.39% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Down 0.8%

Shares of ZBH opened at $103.13 on Friday. The firm has a market cap of $20.43 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 2.39 and a beta of 0.67. The company's fifty day moving average is $101.86 and its two-hundred day moving average is $97.71. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $114.72. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54.

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

Zimmer Biomet Announces Dividend

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

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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