Metis Global Partners LLC Sells 3,141 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Metis Global Partners LLC decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 22.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,142 shares of the medical equipment provider’s stock after selling 3,141 shares during the quarter. Metis Global Partners LLC’s holdings in Zimmer Biomet were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. grew its position in shares of Zimmer Biomet by 5.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 67,915 shares of the medical equipment provider’s stock worth $6,197,000 after purchasing an additional 3,634 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Zimmer Biomet by 34.4% in the second quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock valued at $2,446,000 after buying an additional 6,867 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Zimmer Biomet by 89.8% in the second quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider’s stock valued at $4,036,000 after buying an additional 20,945 shares during the period. QSM Asset Management Ltd grew its position in Zimmer Biomet by 36.1% during the second quarter. QSM Asset Management Ltd now owns 111,500 shares of the medical equipment provider’s stock worth $10,174,000 after buying an additional 29,600 shares in the last quarter. Finally, Equity Investment Corp increased its stake in Zimmer Biomet by 40.0% during the 2nd quarter. Equity Investment Corp now owns 1,453,204 shares of the medical equipment provider’s stock worth $132,547,000 after acquiring an additional 414,856 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the completion of the transaction, the senior vice president directly owned 6,833 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Zimmer Biomet Price Performance

ZBH stock opened at $88.52 on Wednesday. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.29 and a beta of 0.67. 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 has a 50 day simple moving average of $99.46 and a 200 day simple moving average of $97.29. Zimmer Biomet Holdings, Inc. has a 1 year low of $85.33 and a 1 year high of $114.72.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Zimmer Biomet’s dividend payout ratio is presently 23.76%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Roth Capital reissued a “buy” rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Rothschild & Co Redburn started coverage on shares of Zimmer Biomet in a research report on Thursday, September 18th. They set a “buy” rating and a $130.00 price objective for the company. BTIG Research reduced their price objective on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Stifel Nicolaus set a $110.00 price objective on shares of Zimmer Biomet in a research report on Wednesday, November 5th. Finally, UBS Group cut their target price on Zimmer Biomet from $96.00 to $88.00 and set a “sell” rating for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $109.00.

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.