Fifth Third Bancorp Acquires 35,754 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Fifth Third Bancorp lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 251.1% in the first quarter, HoldingsChannel.com reports. The fund owned 49,992 shares of the medical equipment provider’s stock after acquiring an additional 35,754 shares during the period. Fifth Third Bancorp’s holdings in Zimmer Biomet were worth $4,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter worth about $204,000. Sivia Capital Partners LLC purchased a new stake in Zimmer Biomet during the second quarter worth about $232,000. United Bank raised its position in Zimmer Biomet by 10.7% in the second quarter. United Bank now owns 11,896 shares of the medical equipment provider’s stock worth $1,085,000 after acquiring an additional 1,153 shares during the period. Federated Hermes Inc. raised its position in Zimmer Biomet by 129.2% in the second quarter. Federated Hermes Inc. now owns 2,132 shares of the medical equipment provider’s stock worth $194,000 after acquiring an additional 1,202 shares during the period. Finally, Cerity Partners LLC boosted its stake in Zimmer Biomet by 93.6% in the second quarter. Cerity Partners LLC now owns 76,785 shares of the medical equipment provider’s stock valued at $7,004,000 after acquiring an additional 37,116 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Down 2.7%

ZBH opened at $91.18 on Friday. Zimmer Biomet Holdings, Inc. has a 12 month low of $79.12 and a 12 month high of $108.29. The company has a market cap of $17.64 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.46. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $87.17 and a 200 day moving average of $89.83.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.23. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. On average, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, June 25th. Zimmer Biomet’s payout ratio is presently 24.94%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the transaction, the insider owned 27,251 shares in the company, valued at $2,252,022.64. This trade represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ZBH shares. Citizens Jmp reduced their target price on shares of Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 29th. Wall Street Zen downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Leerink Partners started coverage on Zimmer Biomet in a report on Monday, April 13th. They set a “hold” rating and a $101.00 price objective for the company. Citigroup decreased their target price on Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Finally, Barclays lowered their target price on Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock 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, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $100.70.

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.