HighTower Advisors LLC Sells 2,915 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• HighTower Advisors LLC reduced its holdings in Zimmer Biomet Holdings, Inc. by 5.4%, trimming their position to 50,739 shares valued at approximately $5.74 million.
• Several analysts issued new price targets for Zimmer Biomet, with Canaccord Genuity lowering its target from $115 to $101 while Royal Bank of Canada raised theirs from $112 to $115.
• Insider Sang Yi sold 1,000 shares of Zimmer Biomet at an average price of $95, reducing their ownership by 4.67% following the transaction.

HighTower Advisors LLC trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 5.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,739 shares of the medical equipment provider's stock after selling 2,915 shares during the quarter. HighTower Advisors LLC's holdings in Zimmer Biomet were worth $5,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new stake in Zimmer Biomet in the 1st quarter valued at $269,000. Keybank National Association OH lifted its stake in shares of Zimmer Biomet by 61.2% in the first quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock valued at $1,620,000 after buying an additional 5,434 shares during the period. Envestnet Asset Management Inc. grew its position in Zimmer Biomet by 26.4% during the first quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock worth $35,800,000 after buying an additional 66,114 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Zimmer Biomet by 20.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock valued at $295,000 after acquiring an additional 435 shares during the period. Finally, Stifel Financial Corp raised its holdings in Zimmer Biomet by 10.8% in the 4th quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock valued at $10,144,000 after acquiring an additional 9,341 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $3.2070 during mid-day trading on Friday, reaching $107.6270. 1,099,322 shares of the stock were exchanged, compared to its average volume of 1,763,578. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The company has a market cap of $21.32 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 2.06 and a beta of 0.68. The firm has a 50-day simple moving average of $95.19 and a 200 day simple moving average of $99.32. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, topping the consensus estimate 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%. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were 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 of this dividend was Thursday, June 26th. Zimmer Biomet's payout ratio is currently 23.36%.

Insider Activity

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the insider directly owned 20,424 shares of the company's stock, 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 through this link. Insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ZBH shares. Evercore ISI decreased their price objective on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a report on Tuesday, July 8th. Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a report on Tuesday, May 6th. Royal Bank Of Canada raised their price objective on shares of Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, UBS Group lifted their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $111.44.

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.