Bank of New York Mellon Corp Cuts Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Bank of New York Mellon Corp reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,397,375 shares of the medical equipment provider’s stock after selling 32,290 shares during the period. Bank of New York Mellon Corp owned 0.71% of Zimmer Biomet worth $137,641,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Rakuten Investment Management Inc. bought a new stake in Zimmer Biomet during the third quarter worth approximately $37,307,000. Sector Gamma AS boosted its holdings in shares of Zimmer Biomet by 28.0% in the 3rd quarter. Sector Gamma AS now owns 113,478 shares of the medical equipment provider’s stock worth $11,178,000 after purchasing an additional 24,847 shares during the period. Resona Asset Management Co. Ltd. increased its position in shares of Zimmer Biomet by 5.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 67,915 shares of the medical equipment provider’s stock valued at $6,197,000 after purchasing an additional 3,634 shares during the last quarter. SG Americas Securities LLC raised its holdings in Zimmer Biomet by 29.2% during the 3rd quarter. SG Americas Securities LLC now owns 61,110 shares of the medical equipment provider’s stock valued at $6,019,000 after buying an additional 13,812 shares during the period. Finally, Truist Financial Corp lifted its position in Zimmer Biomet by 34.4% in the second quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock worth $2,446,000 after buying an additional 6,867 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

ZBH has been the topic of a number of analyst reports. Johnson Rice set a $112.00 price objective on shares of Zimmer Biomet in a research report on Wednesday, November 5th. Canaccord Genuity Group cut their price target on shares of Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, November 10th. UBS Group reduced their price objective on shares of Zimmer Biomet from $88.00 to $86.00 and set a “sell” rating on the stock in a research report on Wednesday. Barclays dropped their target price on Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating for the company in a research report on Wednesday, November 5th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $100.00 price target (down from $117.00) on shares of Zimmer Biomet in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $107.24.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $87.04 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.39. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62. The firm has a 50-day moving average of $91.01 and a two-hundred day moving average of $95.97. Zimmer Biomet Holdings, Inc. has a 1 year low of $84.59 and a 1 year high of $114.44.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, December 30th. Zimmer Biomet’s dividend payout ratio is currently 23.76%.

About Zimmer Biomet

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.