Sound Shore Management Inc CT Buys 128,772 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Sound Shore Management Inc CT grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 16.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 927,258 shares of the medical equipment provider’s stock after acquiring an additional 128,772 shares during the quarter. Zimmer Biomet accounts for 2.9% of Sound Shore Management Inc CT’s portfolio, making the stock its 18th biggest holding. Sound Shore Management Inc CT owned approximately 0.47% of Zimmer Biomet worth $84,575,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. increased its stake in Zimmer Biomet by 5.7% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 67,915 shares of the medical equipment provider’s stock worth $6,197,000 after acquiring an additional 3,634 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Zimmer Biomet in the 2nd quarter worth approximately $80,000. Equity Investment Corp increased its stake in Zimmer Biomet by 40.0% in the 2nd quarter. Equity Investment Corp now owns 1,453,204 shares of the medical equipment provider’s stock worth $132,547,000 after acquiring an additional 414,856 shares during the last quarter. Speece Thorson Capital Group Inc. increased its stake in Zimmer Biomet by 12.9% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 201,810 shares of the medical equipment provider’s stock worth $18,407,000 after acquiring an additional 23,049 shares during the last quarter. Finally, South Dakota Investment Council increased its stake in Zimmer Biomet by 36.8% in the 2nd quarter. South Dakota Investment Council now owns 112,689 shares of the medical equipment provider’s stock worth $10,278,000 after acquiring an additional 30,303 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZBH shares. UBS Group lifted their price objective on Zimmer Biomet from $91.00 to $96.00 and gave the stock a “sell” rating in a research note on Friday, August 8th. Rothschild & Co Redburn initiated coverage on Zimmer Biomet in a research report on Thursday, September 18th. They set a “buy” rating and a $130.00 target price on the stock. Roth Capital reissued a “buy” rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Johnson Rice set a $112.00 target price on Zimmer Biomet in a research report on Wednesday. Finally, Barclays cut their target price on Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $110.63.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $87.59 on Thursday. The stock’s fifty day moving average is $100.84 and its two-hundred day moving average is $97.60. The company has a market capitalization of $17.35 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. Zimmer Biomet Holdings, Inc. has a 52 week low of $85.84 and a 52 week high of $114.72.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.Zimmer Biomet’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.74 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Zimmer Biomet’s dividend payout ratio is 23.36%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the transaction, the senior vice president owned 6,833 shares of the company’s stock, valued at $711,656.95. This represents a 18.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.39% of the stock is owned by company insiders.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.