Zimmer Biomet (NYSE:ZBH) Shares Down 6.4% – Here’s Why

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) traded down 6.4% during trading on Tuesday . The company traded as low as $84.53 and last traded at $85.4390. Approximately 439,657 shares were traded during trading, a decline of 81% from the average session volume of 2,271,921 shares. The stock had previously closed at $91.24.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Truist Financial reiterated a “hold” rating and issued a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Zimmer Biomet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, April 7th. Wall Street Zen raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. dropped their target price on shares of Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Finally, Citizens Jmp cut their price target on Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 29th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $102.70.

Zimmer Biomet Trading Down 7.6%

The stock has a fifty day moving average of $86.71 and a 200 day moving average of $89.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. The company has a market capitalization of $16.30 billion, a PE ratio of 22.06, a PEG ratio of 2.74 and a beta of 0.47.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the firm posted $1.81 EPS. The company’s revenue was up 9.3% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.49 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

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

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the 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 owned 27,251 shares of the company’s stock, valued at $2,252,022.64. This represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds have recently made changes to their positions in the company. Main Management ETF Advisors LLC raised its position in shares of Zimmer Biomet by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 10,962 shares of the medical equipment provider’s stock worth $986,000 after purchasing an additional 112 shares during the period. Citizens National Bank Trust Department lifted its holdings in shares of Zimmer Biomet by 17.6% during the first quarter. Citizens National Bank Trust Department now owns 941 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 141 shares during the last quarter. Boltwood Capital Management boosted its position in shares of Zimmer Biomet by 3.9% in the 4th quarter. Boltwood Capital Management now owns 3,866 shares of the medical equipment provider’s stock valued at $348,000 after purchasing an additional 144 shares during the period. Independence Bank of Kentucky increased its stake in Zimmer Biomet by 9.7% in the 4th quarter. Independence Bank of Kentucky now owns 1,633 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 145 shares in the last quarter. Finally, LOM Asset Management Ltd increased its stake in Zimmer Biomet by 21.5% in the 4th quarter. LOM Asset Management Ltd now owns 830 shares of the medical equipment provider’s stock worth $75,000 after purchasing an additional 147 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Company 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.