Gamco Investors INC. ET AL Sells 7,610 Shares of Zimmer Biomet Holdings, Inc. $ZBH

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 stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 200,791 shares of the medical equipment provider's stock after selling 7,610 shares during the period. Gamco Investors INC. ET AL owned 0.10% of Zimmer Biomet worth $22,726,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MGO One Seven LLC raised its holdings in Zimmer Biomet by 5.1% during the fourth quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock valued at $238,000 after acquiring an additional 110 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Zimmer Biomet by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock valued at $2,903,000 after purchasing an additional 118 shares in the last quarter. Curbstone Financial Management Corp grew its position in shares of Zimmer Biomet by 3.4% during the first quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock valued at $483,000 after purchasing an additional 140 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Zimmer Biomet by 45.9% during the first quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider's stock valued at $52,000 after purchasing an additional 145 shares in the last quarter. Finally, Roberts Wealth Advisors LLC grew its position in shares of Zimmer Biomet by 0.8% during the first quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider's stock valued at $2,093,000 after purchasing an additional 152 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business'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 transaction of $95,000.00. Following the completion of the transaction, the insider owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ZBH shares. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. Wells Fargo & Company cut their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Truist Financial set a $101.00 price objective on Zimmer Biomet in a research report on Tuesday, May 6th. Morgan Stanley dropped their price target on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, Robert W. Baird dropped their price target on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $111.44.

Zimmer Biomet Trading Up 1.0%

Shares of NYSE:ZBH traded up $1.05 during trading hours on Friday, hitting $106.11. 680,071 shares of the company's stock traded hands, compared to its average volume of 1,717,984. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The business has a fifty day moving average price of $97.09 and a 200-day moving average price of $99.47. The firm has a market capitalization of $21.02 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 2.09 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $2.01 earnings per share. The company's revenue for the quarter 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. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Zimmer Biomet's payout ratio 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.