Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Zimmer Biomet Holdings by 5.3%, now owning 74,019 shares valued at approximately $6.75 million.
• Multiple research firms have revised their target prices for Zimmer Biomet, with Raymond James increasing their target from $104 to $113, while UBS Group raised theirs from $91 to $96.
• Zimmer Biomet announced a quarterly dividend of $0.24 per share, representing an annualized payout of $0.96 and a dividend yield of 0.9%.

TD Asset Management Inc reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,019 shares of the medical equipment provider's stock after selling 4,177 shares during the period. TD Asset Management Inc's holdings in Zimmer Biomet were worth $6,751,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in shares of Zimmer Biomet by 0.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock worth $2,903,000 after purchasing an additional 118 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Zimmer Biomet by 45.9% during the 1st quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider's stock worth $52,000 after purchasing an additional 145 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Zimmer Biomet by 8.3% in the second quarter. IFP Advisors Inc now owns 1,947 shares of the medical equipment provider's stock worth $178,000 after acquiring an additional 149 shares during the last quarter. Dakota Wealth Management boosted its position in shares of Zimmer Biomet by 1.8% in the first quarter. Dakota Wealth Management now owns 9,791 shares of the medical equipment provider's stock worth $1,108,000 after acquiring an additional 171 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Zimmer Biomet by 2.3% in the first quarter. CWM LLC now owns 8,078 shares of the medical equipment provider's stock worth $914,000 after acquiring an additional 180 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ZBH shares. UBS Group raised their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research report on Friday, August 8th. Raymond James Financial raised their target price on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus raised their target price on shares of Zimmer Biomet from $115.00 to $118.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada set a $111.00 target price on shares of Zimmer Biomet in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $111.94.

Insider Activity

In other news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Zimmer Biomet Trading Up 2.1%

Shares of ZBH stock opened at $102.00 on Monday. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.35 and a beta of 0.67. 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 Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $114.72. The firm's 50 day moving average price is $101.74 and its two-hundred day moving average price is $97.68.

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 firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations 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 was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

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

Zimmer Biomet 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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