Norges Bank Invests $225.87 Million in Zimmer Biomet Holdings, Inc. $ZBH

Norges Bank bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,476,344 shares of the medical equipment provider’s stock, valued at approximately $225,867,000.

Other institutional investors have also bought and sold shares of the company. Accent Capital Management LLC bought a new stake in Zimmer Biomet during the first quarter valued at about $35,000. Hilltop National Bank purchased a new stake in shares of Zimmer Biomet during the second quarter worth about $42,000. True Wealth Design LLC raised its stake in Zimmer Biomet by 875.0% during the 2nd quarter. True Wealth Design LLC now owns 468 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 420 shares during the period. Zions Bancorporation National Association UT purchased a new position in Zimmer Biomet in the 1st quarter worth approximately $48,000. Finally, Brooklyn Investment Group boosted its stake in Zimmer Biomet by 45.9% in the 1st quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider’s stock worth $52,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $94.75 on Tuesday. The company’s 50-day moving average price is $96.70 and its 200-day moving average price is $96.80. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. The company has a market cap of $18.78 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. Zimmer Biomet Holdings, Inc. has a twelve month low of $85.33 and a twelve month high of $114.44.

Zimmer Biomet (NYSE:ZBH) last announced 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. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm earned $1.74 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus set a $110.00 price objective on shares of Zimmer Biomet in a research report on Wednesday, November 5th. Evercore ISI reduced their price target on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. BTIG Research dropped their price objective on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Rothschild Redb raised Zimmer Biomet to a “strong-buy” rating in a report on Thursday, September 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Zimmer Biomet in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $109.00.

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $104.15, for a total transaction of $156,225.00. Following the transaction, the senior vice president owned 6,833 shares of the company’s stock, valued at approximately $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

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.