Magellan Asset Management Ltd Grows Stake in Zimmer Biomet Holdings, Inc. $ZBH

Magellan Asset Management Ltd grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,734 shares of the medical equipment provider’s stock after purchasing an additional 36,609 shares during the period. Magellan Asset Management Ltd owned approximately 0.32% of Zimmer Biomet worth $57,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. grew its position in Zimmer Biomet by 3.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 32,066 shares of the medical equipment provider’s stock worth $2,883,000 after acquiring an additional 1,100 shares in the last quarter. TD Asset Management Inc grew its position in Zimmer Biomet by 5.2% in the fourth quarter. TD Asset Management Inc now owns 86,407 shares of the medical equipment provider’s stock worth $7,770,000 after acquiring an additional 4,241 shares in the last quarter. CIBC Asset Management Inc grew its position in Zimmer Biomet by 67.6% in the fourth quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider’s stock worth $4,183,000 after acquiring an additional 18,769 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Zimmer Biomet by 24.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,018,387 shares of the medical equipment provider’s stock worth $91,573,000 after acquiring an additional 199,446 shares in the last quarter. Finally, Westpac Banking Corp grew its position in Zimmer Biomet by 26.3% in the fourth quarter. Westpac Banking Corp now owns 2,424 shares of the medical equipment provider’s stock worth $218,000 after acquiring an additional 504 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZBH. Wells Fargo & Company cut their target price on shares of Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Stifel Nicolaus cut their target price on shares of Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 target price on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday, February 10th. Finally, Citigroup lowered their price target on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $102.70.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $86.72 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $16.78 billion, a PE ratio of 22.52, a P/E/G ratio of 1.96 and a beta of 0.47. The firm has a fifty day simple moving average of $87.69 and a two-hundred day simple moving average of $90.50. Zimmer Biomet Holdings, Inc. has a twelve month low of $79.12 and a twelve month high of $108.29.

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

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet’s dividend payout ratio is 24.94%.

Insider Activity

In other news, insider Sang Yi sold 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Lori Winkler sold 2,650 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $94.66, for a total transaction of $250,849.00. Following the transaction, the senior vice president directly owned 10,224 shares of the company’s stock, valued at approximately $967,803.84. This trade represents a 20.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.28% of the company’s stock.

Zimmer Biomet Profile

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.