Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. reduced its stake in Zimmer Biomet Holdings by 3.7% in Q1, selling 7,610 shares, while other institutional investors significantly increased their positions in the same period.
• Analysts have mixed views on Zimmer Biomet, with multiple firms adjusting their price targets, reflecting a consensus price target of $111.44 and an average rating of "Hold."
• Zimmer Biomet reported an EPS of $2.07 for its latest quarter, exceeding expectations, and declared a quarterly dividend with an annualized yield of 0.9%.

Gamco Investors INC. ET AL lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 200,791 shares of the medical equipment provider's stock after selling 7,610 shares during the quarter. Gamco Investors INC. ET AL owned about 0.10% of Zimmer Biomet worth $22,726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZBH. Ameriprise Financial Inc. lifted its position in Zimmer Biomet by 236.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock worth $517,039,000 after acquiring an additional 3,208,596 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Zimmer Biomet by 251.3% in the 1st 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. Nuveen LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at about $155,891,000. Nuveen Asset Management LLC lifted its holdings in shares of Zimmer Biomet by 191.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after buying an additional 913,310 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at about $67,954,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZBH. Raymond James Financial boosted their price objective on Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a report on Friday, August 8th. JMP Securities reduced their price target on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Truist Financial set a $101.00 price target on Zimmer Biomet in a report on Tuesday, May 6th. Finally, Robert W. Baird reduced their price target on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $111.44.

Insider Activity

In other news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This 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 available at this link. 0.70% of the stock is owned by company insiders.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $107.3520 on Tuesday. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The stock has a 50 day moving average of $95.82 and a two-hundred day moving average of $99.28. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market cap of $21.27 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 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 analyst estimates of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.Zimmer Biomet's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were given a $0.24 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. 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.

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