Zimmer Biomet (NYSE:ZBH) Stock Price Down 6.4% – Here’s Why

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) shares traded down 6.4% during trading on Tuesday . The stock traded as low as $84.53 and last traded at $85.4390. 439,657 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,271,921 shares. The stock had previously closed at $91.24.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZBH. Citigroup cut their price target on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. Canaccord Genuity Group set a $83.00 price objective on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Wells Fargo & Company lowered their price objective on shares of Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. JPMorgan Chase & Co. cut their target price on shares of Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Zimmer Biomet in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $102.70.

Zimmer Biomet Stock Down 7.6%

The business has a fifty day moving average price of $86.71 and a two-hundred day moving average price of $89.96. 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 $16.30 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.74 and a beta of 0.47.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business earned $1.81 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.49 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. Zimmer Biomet’s dividend payout ratio is 24.94%.

Insider Activity

In related news, insider Sang Yi sold 5,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares in the company, valued at approximately $2,252,022.64. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Inceptionr LLC acquired a new stake in shares of Zimmer Biomet in the 3rd quarter valued at $1,217,000. PNC Financial Services Group Inc. increased its position in Zimmer Biomet by 9.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider’s stock worth $14,495,000 after buying an additional 13,883 shares during the last quarter. Wilsey Asset Management Inc. acquired a new position in Zimmer Biomet during the fourth quarter worth $32,439,000. Dimensional Fund Advisors LP raised its holdings in Zimmer Biomet by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,269,122 shares of the medical equipment provider’s stock valued at $223,503,000 after buying an additional 39,146 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Zimmer Biomet by 257.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider’s stock valued at $3,091,000 after buying an additional 24,748 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Company 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.