Arrowstreet Capital Limited Partnership Raises Stake in Zimmer Biomet Holdings, Inc. $ZBH

Arrowstreet Capital Limited Partnership lifted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 62.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,104,218 shares of the medical equipment provider’s stock after purchasing an additional 425,349 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.57% of Zimmer Biomet worth $99,843,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in Zimmer Biomet by 15,705.6% in the 4th quarter. M&T Bank Corp now owns 3,571,595 shares of the medical equipment provider’s stock worth $321,158,000 after acquiring an additional 3,548,998 shares in the last quarter. Norges Bank purchased a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $221,234,000. Franklin Resources Inc. raised its stake in shares of Zimmer Biomet by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock valued at $601,204,000 after acquiring an additional 2,017,857 shares in the last quarter. Auto Owners Insurance Co boosted its holdings in shares of Zimmer Biomet by 8,892.0% in the fourth quarter. Auto Owners Insurance Co now owns 2,009,712 shares of the medical equipment provider’s stock valued at $180,713,000 after purchasing an additional 1,987,362 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 276.6% in the second quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider’s stock valued at $118,627,000 after purchasing an additional 955,284 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 1.9%

Zimmer Biomet stock opened at $91.35 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 firm has a market cap of $17.67 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.69 and a beta of 0.46. The business has a fifty day moving average of $87.90 and a two-hundred day moving average of $89.81. 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 issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business posted $1.81 EPS. The firm’s quarterly 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. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors 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 is Thursday, June 25th. Zimmer Biomet’s payout ratio is 24.94%.

Analysts Set New Price Targets

Several research firms have commented on ZBH. BMO Capital Markets started coverage on Zimmer Biomet in a report on Wednesday, July 8th. They set a “market perform” rating and a $95.00 price objective on the stock. Citigroup dropped their price target on Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating on the stock in a research report on Thursday, May 28th. JPMorgan Chase & Co. cut their price target on Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company decreased their price objective on Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $100.70.

Insider Activity at Zimmer Biomet

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

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.