Primecap Management Co. CA Buys Shares of 3,816,680 Zimmer Biomet Holdings, Inc. $ZBH

Primecap Management Co. CA acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,816,680 shares of the medical equipment provider’s stock, valued at approximately $328,578,000.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Zimmer Biomet by 9.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider’s stock worth $14,495,000 after acquiring an additional 13,883 shares in the last quarter. Morningstar Investment Management LLC increased its position in shares of Zimmer Biomet by 235.4% during the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider’s stock worth $5,204,000 after purchasing an additional 40,610 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Zimmer Biomet by 257.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider’s stock valued at $3,091,000 after purchasing an additional 24,748 shares during the last quarter. Robertson Stephens Wealth Management LLC purchased a new position in Zimmer Biomet during the 4th quarter worth $1,131,000. Finally, CIBC Asset Management Inc increased its position in Zimmer Biomet by 67.6% during the 4th quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider’s stock valued at $4,183,000 after buying an additional 18,769 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Insider Activity

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was 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 approximately $2,252,022.64. The trade was a 15.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.28% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Down 0.7%

Shares of ZBH stock opened at $100.25 on Wednesday. Zimmer Biomet Holdings, Inc. has a twelve month low of $79.12 and a twelve month high of $108.29. The stock has a market cap of $19.12 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.75 and a beta of 0.45. The stock has a 50 day moving average of $93.11 and a 200 day moving average of $91.22. The company has a current ratio of 1.69, a quick ratio of 0.94 and a debt-to-equity ratio of 0.50.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned $2.07 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ZBH shares. Weiss Ratings upgraded shares of Zimmer Biomet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Royal Bank Of Canada upped their price target on shares of Zimmer Biomet from $101.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. decreased their price target 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. Stifel Nicolaus lifted their price objective on shares of Zimmer Biomet from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Barclays dropped their price objective on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $104.42.

Zimmer Biomet 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.