Allstate Corp Boosts Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Allstate Corp increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 99.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,126 shares of the medical equipment provider’s stock after purchasing an additional 7,052 shares during the period. Allstate Corp’s holdings in Zimmer Biomet were worth $1,270,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ZBH. Border to Coast Pensions Partnership Ltd raised its stake in Zimmer Biomet by 6.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 360,462 shares of the medical equipment provider’s stock worth $35,506,000 after acquiring an additional 22,104 shares in the last quarter. National Pension Service grew its position in Zimmer Biomet by 4.5% during the 3rd quarter. National Pension Service now owns 393,476 shares of the medical equipment provider’s stock worth $38,757,000 after purchasing an additional 16,928 shares during the last quarter. AMG National Trust Bank grew its position in Zimmer Biomet by 29.1% during the 3rd quarter. AMG National Trust Bank now owns 50,359 shares of the medical equipment provider’s stock worth $4,960,000 after purchasing an additional 11,339 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Zimmer Biomet by 47.5% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 62,079 shares of the medical equipment provider’s stock worth $6,115,000 after purchasing an additional 19,996 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Zimmer Biomet by 24.9% during the 3rd quarter. New York State Common Retirement Fund now owns 208,503 shares of the medical equipment provider’s stock worth $20,538,000 after purchasing an additional 41,538 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ZBH shares. Truist Financial restated a “hold” rating and set a $92.00 target price (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Barclays dropped their price objective on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating for the company in a research report on Wednesday, April 29th. Leerink Partners assumed coverage on shares of Zimmer Biomet in a research report on Monday, April 13th. They issued a “hold” rating and a $101.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company dropped their price objective on shares of Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.70.

Zimmer Biomet Stock Performance

ZBH stock opened at $82.46 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. The stock has a market cap of $15.95 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.92 and a beta of 0.48. The firm has a 50 day simple moving average of $87.96 and a 200 day simple moving average of $90.63. Zimmer Biomet Holdings, Inc. has a 52 week low of $79.12 and a 52 week high of $108.29.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.23. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.47 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $0.96 annualized dividend and a dividend yield of 1.2%. Zimmer Biomet’s dividend payout ratio is presently 24.94%.

Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 2,650 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $94.66, for a total transaction of $250,849.00. Following the transaction, the senior vice president owned 10,224 shares in the company, valued at $967,803.84. This represents a 20.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.28% of the company’s stock.

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.