Zimmer Biomet Holdings, Inc. $ZBH Stock Position Lowered by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has reduced its stake in Zimmer Biomet Holdings by 58.6%, selling 32,013 shares and holding 22,641 shares worth approximately $2,065,000 as of the end of the second quarter.
• Various institutional investors have been actively trading Zimmer Biomet's stock, with Truist Financial Corp increasing its position by 34.4% and the State of Alaska Department of Revenue lifting its stake by 89.8% in the same period.
• The company announced a quarterly dividend of $0.24, representing a 0.9% yield, with the dividend payout ratio at 23.36%.

Allianz Asset Management GmbH decreased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 58.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,641 shares of the medical equipment provider's stock after selling 32,013 shares during the quarter. Allianz Asset Management GmbH's holdings in Zimmer Biomet were worth $2,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its position in Zimmer Biomet by 34.4% in the 2nd quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider's stock worth $2,446,000 after buying an additional 6,867 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Zimmer Biomet in the 1st quarter worth approximately $269,000. State of Alaska Department of Revenue lifted its position in Zimmer Biomet by 89.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider's stock worth $4,036,000 after buying an additional 20,945 shares in the last quarter. Thomasville National Bank lifted its position in Zimmer Biomet by 3.0% in the 2nd quarter. Thomasville National Bank now owns 105,805 shares of the medical equipment provider's stock worth $9,650,000 after buying an additional 3,053 shares in the last quarter. Finally, Bridge Creek Capital Management LLC lifted its position in Zimmer Biomet by 12.3% in the 2nd quarter. Bridge Creek Capital Management LLC now owns 30,133 shares of the medical equipment provider's stock worth $2,748,000 after buying an additional 3,297 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a "hold" rating and issued a $101.00 target price on shares of Zimmer Biomet in a research report on Wednesday. Evercore ISI dropped their price target on shares of Zimmer Biomet from $106.00 to $104.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 7th. Raymond James Financial increased their price target on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Rothschild & Co Redburn started coverage on shares of Zimmer Biomet in a research note on Thursday, September 18th. They set a "buy" rating and a $130.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $115.00 to $118.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $111.94.

Insider Buying and Selling

In related news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction on Monday, September 8th. The shares were sold at an average price of $104.15, for a total value of $156,225.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.39% of the stock is owned by company insiders.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $103.14 on Friday. The company has a market capitalization of $20.43 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 2.37 and a beta of 0.67. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $114.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The company's fifty day moving average price is $101.86 and its 200 day moving average price is $97.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results 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 firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

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

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