Associated Banc Corp Cuts Stake in Zimmer Biomet Holdings, Inc. $ZBH

Associated Banc Corp lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,466 shares of the medical equipment provider’s stock after selling 1,008 shares during the period. Associated Banc Corp’s holdings in Zimmer Biomet were worth $1,137,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in shares of Zimmer Biomet by 236.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider’s stock worth $517,039,000 after purchasing an additional 3,208,596 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Zimmer Biomet by 251.3% during the first quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider’s stock valued at $235,571,000 after purchasing an additional 1,488,918 shares during the period. Nuveen LLC bought a new position in Zimmer Biomet during the first quarter valued at $155,891,000. Alyeska Investment Group L.P. purchased a new stake in Zimmer Biomet in the first quarter worth $101,294,000. Finally, Franklin Resources Inc. raised its stake in shares of Zimmer Biomet by 15.2% in the second quarter. Franklin Resources Inc. now owns 4,673,860 shares of the medical equipment provider’s stock valued at $426,303,000 after buying an additional 615,014 shares during the period. Institutional investors 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 company’s 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 transaction, the senior vice president directly owned 6,833 shares in the company, valued at $711,656.95. This represents a 18.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.39% of the stock is currently owned by insiders.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $97.09 on Wednesday. Zimmer Biomet Holdings, Inc. has a 1-year low of $85.33 and a 1-year high of $114.44. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $19.24 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The firm’s 50 day simple moving average is $96.98 and its 200 day simple moving average is $96.80.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Johnson Rice set a $112.00 price objective on Zimmer Biomet in a report on Wednesday, November 5th. Rothschild & Co Redburn assumed coverage on shares of Zimmer Biomet in a research note on Thursday, September 18th. They issued a “buy” rating and a $130.00 target price for the company. Barclays lowered their price target on shares of Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 5th. Roth Capital reaffirmed a “buy” rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Finally, UBS Group reduced their price objective on shares of 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 research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $109.00.

Zimmer Biomet Profile

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.