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

Magellan Asset Management Ltd cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 550,781 shares of the medical equipment provider’s stock after selling 85,953 shares during the period. Magellan Asset Management Ltd owned approximately 0.28% of Zimmer Biomet worth $49,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Zimmer Biomet by 9.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider’s stock worth $14,495,000 after acquiring an additional 13,883 shares during the period. Morningstar Investment Management LLC raised its position in Zimmer Biomet by 235.4% in the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider’s stock valued at $5,204,000 after purchasing an additional 40,610 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Zimmer Biomet by 257.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider’s stock valued at $3,091,000 after purchasing an additional 24,748 shares during the period. Douglas Lane & Associates LLC lifted its stake in shares of Zimmer Biomet by 6.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 460,178 shares of the medical equipment provider’s stock valued at $41,379,000 after purchasing an additional 28,818 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Zimmer Biomet by 67.6% in the 4th quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider’s stock valued at $4,183,000 after purchasing an additional 18,769 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the transaction, the insider owned 27,251 shares in the company, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial reissued a “hold” rating and set a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Barclays lowered their target price on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating for the company in a research note on Wednesday, April 29th. BMO Capital Markets began coverage on shares of Zimmer Biomet in a research report on Wednesday, July 8th. They set a “market perform” rating and a $95.00 price target for the company. Canaccord Genuity Group set a $83.00 price target on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Finally, Robert W. Baird set a $92.00 price objective on shares of Zimmer Biomet in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and a consensus target price of $100.70.

Zimmer Biomet Stock Down 0.9%

Shares of NYSE:ZBH opened at $88.94 on Wednesday. The firm has a market capitalization of $17.21 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.64 and a beta of 0.46. Zimmer Biomet Holdings, Inc. has a 1 year low of $79.12 and a 1 year high of $108.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.73 and a quick ratio of 0.95. The firm’s 50-day moving average is $87.48 and its two-hundred day moving average is $89.81.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, beating the consensus estimate of $1.86 by $0.23. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 24.94%.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.