Sumitomo Mitsui Trust Group Inc. Decreases Stake in Zimmer Biomet Holdings, Inc. $ZBH

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.4% in the first quarter, HoldingsChannel.com reports. The firm owned 476,834 shares of the medical equipment provider’s stock after selling 43,614 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Zimmer Biomet were worth $43,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. grew its holdings in shares of Zimmer Biomet by 0.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 63,831 shares of the medical equipment provider’s stock worth $5,749,000 after purchasing an additional 462 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in Zimmer Biomet by 16.8% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 15,434 shares of the medical equipment provider’s stock valued at $1,396,000 after buying an additional 2,223 shares during the last quarter. Integrated Advisors Network LLC purchased a new stake in Zimmer Biomet during the 1st quarter valued at $205,000. Greatmark Investment Partners Inc. grew its holdings in Zimmer Biomet by 2.5% in the 1st quarter. Greatmark Investment Partners Inc. now owns 20,071 shares of the medical equipment provider’s stock worth $1,815,000 after acquiring an additional 491 shares during the last quarter. Finally, Corbyn Investment Management Inc. MD grew its holdings in Zimmer Biomet by 0.5% in the 1st quarter. Corbyn Investment Management Inc. MD now owns 34,050 shares of the medical equipment provider’s stock worth $3,079,000 after acquiring an additional 183 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

ZBH opened at $91.52 on Monday. The stock has a fifty day simple moving average of $86.25 and a two-hundred day simple moving average of $89.76. 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 market cap of $17.70 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.69 and a beta of 0.46. Zimmer Biomet Holdings, Inc. has a 12-month low of $79.12 and a 12-month high of $108.29.

Zimmer Biomet (NYSE:ZBH) last announced its 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 firm 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 company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $0.96 annualized dividend and a yield of 1.0%. Zimmer Biomet’s payout ratio is presently 24.94%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ZBH shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zimmer Biomet in a research note on Monday, July 6th. Leerink Partners began coverage on Zimmer Biomet in a report on Monday, April 13th. They set a “hold” rating and a $101.00 price target on the stock. Truist Financial reaffirmed a “hold” rating and set a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Citigroup cut their price objective on Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating on the stock in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. reduced their target price on Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $102.33.

Insider Buying and Selling

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

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.