Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Zurcher Kantonalbank increased its holdings in Zimmer Biomet Holdings, Inc. by 8.6% in the first quarter, owning approximately 101,648 shares valued at $11.5 million.
• Recent reports show various hedge funds taking new stakes in Zimmer Biomet, with 88.89% of the stock held by institutional investors.
• Zimmer Biomet's quarterly earnings report revealed an EPS of $1.81, surpassing analyst expectations, alongside a 1.1% year-over-year revenue increase.

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,648 shares of the medical equipment provider's stock after purchasing an additional 8,070 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Zimmer Biomet worth $11,505,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new position in Zimmer Biomet in the first quarter valued at $269,000. Keybank National Association OH increased its stake in 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 acquiring an additional 5,434 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Zimmer Biomet by 26.4% in the first quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock valued at $35,800,000 after acquiring an additional 66,114 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in Zimmer Biomet by 20.0% in 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 last quarter. Finally, Stifel Financial Corp increased its stake in Zimmer Biomet by 10.8% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Insider Buying and Selling at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the firm's 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 completion of the sale, the insider owned 20,424 shares of the company's stock, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is owned by company insiders.

Zimmer Biomet Stock Down 1.8%

Shares of ZBH traded down $1.65 on Thursday, hitting $91.67. 1,801,567 shares of the stock traded hands, compared to its average volume of 1,618,814. The company has a market capitalization of $18.14 billion, a PE ratio of 20.28, a P/E/G ratio of 2.18 and a beta of 0.71. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The business has a 50 day simple moving average of $93.21 and a 200 day simple moving average of $100.39. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 earnings per share. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Zimmer Biomet's dividend payout ratio (DPR) is 21.24%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ZBH shares. Raymond James Financial reduced their target price on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. JMP Securities reduced their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Roth Capital upgraded shares of Zimmer Biomet from a "neutral" rating to a "buy" rating and set a $135.00 price target for the company in a research report on Tuesday, July 15th. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $111.39.

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.