Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Zimmer Biomet stake by 11% in the fourth quarter, selling 153,557 shares and ending with 1,243,818 shares valued at about $111.8 million.
• Zimmer Biomet posted a strong latest quarter, with EPS of $2.09 beating estimates and revenue of $2.09 billion topping expectations, while sales rose 9.3% year over year.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $102.70, even as the company also announced a quarterly dividend of $0.24 per share.

Bank of New York Mellon Corp trimmed its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,243,818 shares of the medical equipment provider's stock after selling 153,557 shares during the period. Bank of New York Mellon Corp owned about 0.63% of Zimmer Biomet worth $111,844,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ZBH. Key Financial Inc boosted its position in Zimmer Biomet by 164.6% during the 3rd quarter. Key Financial Inc now owns 262 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 163 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Zimmer Biomet in the fourth quarter worth $32,000. Grove Bank & Trust raised its holdings in shares of Zimmer Biomet by 431.6% during the fourth quarter. Grove Bank & Trust now owns 404 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 328 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $37,000. Finally, Basepoint Wealth LLC acquired a new position in Zimmer Biomet in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ZBH shares. UBS Group reiterated a "sell" rating and issued a $89.00 target price on shares of Zimmer Biomet in a research note on Wednesday, February 11th. Stifel Nicolaus dropped their price target on shares of Zimmer Biomet from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Zimmer Biomet from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Wells Fargo & Company cut their target price on Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 29th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Zimmer Biomet in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $102.70.

Zimmer Biomet Trading Up 0.2%

Shares of Zimmer Biomet stock opened at $87.50 on Monday. Zimmer Biomet Holdings, Inc. has a 1 year low of $79.12 and a 1 year high of $108.29. The company's fifty day simple moving average is $87.68 and its 200-day simple moving average is $90.49. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.02 and a beta of 0.47. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.23. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The business's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.49 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 2,650 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $94.66, for a total transaction of $250,849.00. Following the completion of the transaction, the senior vice president directly owned 10,224 shares in the company, valued at $967,803.84. This represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sang Yi sold 5,000 shares of the company's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares in the company, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.28% of the stock is currently owned by company insiders.

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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