Saudi Central Bank Grows Stake in Zimmer Biomet Holdings, Inc. $ZBH

Saudi Central Bank grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 85.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,550 shares of the medical equipment provider’s stock after acquiring an additional 6,235 shares during the quarter. Saudi Central Bank’s holdings in Zimmer Biomet were worth $1,167,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Munich Reinsurance Co Stock Corp in Munich bought a new stake in Zimmer Biomet in the second quarter valued at $3,753,000. Syon Capital LLC bought a new position in Zimmer Biomet in the 2nd quarter worth $211,000. NEOS Investment Management LLC raised its holdings in Zimmer Biomet by 5.0% in the 2nd quarter. NEOS Investment Management LLC now owns 32,185 shares of the medical equipment provider’s stock worth $2,771,000 after purchasing an additional 1,529 shares in the last quarter. Nykredit A S purchased a new stake in shares of Zimmer Biomet in the 2nd quarter worth about $3,419,000. Finally, Quantitative Investment Management LLC bought a new stake in shares of Zimmer Biomet during the 2nd quarter valued at about $1,008,000. Institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ZBH shares. Robert W. Baird set a $104.00 price target on shares of Zimmer Biomet in a research note on Thursday, August 6th. Sanford C. Bernstein lifted their price objective on Zimmer Biomet from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Zacks Research upgraded Zimmer Biomet from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Wednesday, August 5th. Finally, Truist Financial raised their target price on Zimmer Biomet from $92.00 to $106.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $104.42.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $94.10 on Wednesday. The business has a fifty day moving average price of $95.12 and a 200-day moving average price of $91.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.94. The company has a market capitalization of $17.95 billion, a PE ratio of 22.89, a PEG ratio of 1.85 and a beta of 0.47. Zimmer Biomet Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $106.88.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $2.07 EPS. Zimmer Biomet’s revenue was up 4.8% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. As a group, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.54 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 23.36%.

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.