Peak Asset Management LLC Purchases Shares of 5,192 Zimmer Biomet Holdings, Inc. $ZBH

Peak Asset Management LLC purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the second quarter, Holdings Channel reports. The firm purchased 5,192 shares of the medical equipment provider’s stock, valued at approximately $447,000.

Several other large investors have also recently modified their holdings of the company. Dodge & Cox lifted its holdings in shares of Zimmer Biomet by 1.3% during the 4th quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider’s stock valued at $2,113,736,000 after purchasing an additional 290,676 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Zimmer Biomet by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,483,741 shares of the medical equipment provider’s stock worth $2,111,658,000 after acquiring an additional 192,517 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Zimmer Biomet during the second quarter valued at about $1,344,282,000. State Street Corp boosted its stake in Zimmer Biomet by 2.3% in the 4th quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider’s stock worth $795,814,000 after purchasing an additional 195,214 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Zimmer Biomet by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock valued at $601,204,000 after purchasing an additional 2,017,857 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the stock in a transaction that occurred 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 transaction, 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 SEC, which can be accessed through this hyperlink. Insiders own 1.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ZBH. Truist Financial upped their target price on Zimmer Biomet from $92.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. reduced their price objective on Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Robert W. Baird set a $104.00 price objective on shares of Zimmer Biomet in a report on Thursday, August 6th. Barclays reduced their target price on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating for the company in a report on Wednesday, April 29th. Finally, Zacks Research lowered shares of Zimmer Biomet from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $104.42.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $100.89 on Tuesday. The company has a market capitalization of $19.24 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 2.75 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.94 and a current ratio of 1.69. The company’s fifty day moving average price is $92.90 and its 200 day moving average price is $91.14. Zimmer Biomet Holdings, Inc. has a 1 year low of $79.12 and a 1 year high of $108.29.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $2.07 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.54 earnings per share for the current year.

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.