Bank of New York Mellon Corp Cuts Stock Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Bank of New York Mellon Corp lowered its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,397,375 shares of the medical equipment provider’s stock after selling 32,290 shares during the quarter. Bank of New York Mellon Corp’s holdings in Zimmer Biomet were worth $137,641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rakuten Investment Management Inc. purchased a new stake in Zimmer Biomet during the third quarter worth $37,307,000. Sector Gamma AS raised its position in shares of Zimmer Biomet by 28.0% in the 3rd quarter. Sector Gamma AS now owns 113,478 shares of the medical equipment provider’s stock worth $11,178,000 after acquiring an additional 24,847 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its stake 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 during the last quarter. SG Americas Securities LLC boosted its position in Zimmer Biomet by 29.2% during the third quarter. SG Americas Securities LLC now owns 61,110 shares of the medical equipment provider’s stock valued at $6,019,000 after purchasing an additional 13,812 shares in the last quarter. Finally, Truist Financial Corp boosted its position in Zimmer Biomet by 34.4% during the second quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock valued at $2,446,000 after purchasing an additional 6,867 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Trading Up 1.2%

NYSE ZBH opened at $87.04 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $84.59 and a 12-month high of $114.44. The company has a fifty day simple moving average of $91.01 and a two-hundred day simple moving average of $95.97. The company has a current ratio of 2.43, a quick ratio of 1.39 and a debt-to-equity ratio of 0.59. The stock has a market cap of $17.25 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.19 and a beta of 0.62.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 23.76%.

Analyst Ratings Changes

ZBH has been the subject of several analyst reports. UBS Group decreased their price target on shares of Zimmer Biomet from $88.00 to $86.00 and set a “sell” rating for the company in a research report on Wednesday. Evercore ISI upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $94.00 to $120.00 in a research note on Monday, January 5th. Stifel Nicolaus set a $110.00 target price on shares of Zimmer Biomet in a research note on Wednesday, November 5th. Barclays cut their price target on shares of Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. Finally, TD Cowen upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $107.24.

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.