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

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

Analyst Ratings Changes

ZBH has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their target price on Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company dropped their target price on shares of Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Truist Financial restated a “hold” rating and issued a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 price objective on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Zimmer Biomet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $102.70.

Zimmer Biomet Stock Down 2.3%

The stock has a 50 day moving average price of $86.31 and a 200 day moving average price of $89.86. The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 2.54 and a beta of 0.47. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.23. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet’s dividend payout ratio is currently 24.94%.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the stock in a transaction on 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 sale, the insider directly owned 27,251 shares in the company, valued at $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hamilton Wealth LLC bought a new stake in Zimmer Biomet during the first quarter valued at $226,000. Pacer Advisors Inc. raised its position in shares of Zimmer Biomet by 6.3% in the 1st quarter. Pacer Advisors Inc. now owns 741,594 shares of the medical equipment provider’s stock worth $67,055,000 after acquiring an additional 43,841 shares in the last quarter. Defilade Capital Management L.P. acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at about $52,368,000. Parallel Advisors LLC lifted its stake in shares of Zimmer Biomet by 32.1% in the 1st quarter. Parallel Advisors LLC now owns 798 shares of the medical equipment provider’s stock valued at $72,000 after purchasing an additional 194 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Zimmer Biomet by 19.1% during the 1st quarter. NewEdge Advisors LLC now owns 3,553 shares of the medical equipment provider’s stock valued at $321,000 after purchasing an additional 571 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

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.