Zimmer Biomet slides as investors weigh mixed Q1 takeaways and CFO transition

Zimmer Biomet Holdings, Inc. (ZBH) is down 7.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to a “good-but-not-great” earnings reaction: Q1 results and an adjusted EPS outlook update were accompanied by investor focus on profitability (including a notable adjusted EBITDA shortfall versus some expectations) and uncertainty around near-term execution. Separately, a same-day CFO departure announcement likely added an extra layer of perceived risk for some holders.

Details:

The company reported first-quarter 2026 results and updated full-year 2026 guidance, including higher adjusted EPS and free cash flow expectations while maintaining its revenue growth framework.

Despite the headline beat on revenue/EPS, some market commentary flagged weaker-than-expected profitability metrics (including adjusted EBITDA versus certain estimates), which can pressure the stock even when sales trends are solid.

An 8-K disclosed that CFO Suketu Upadhyay planned to resign effective April 28, 2026, with Paul Stellato (controller and chief accounting officer) named interim CFO while a permanent search is conducted.

This could be because investors were positioned for a cleaner upside surprise and instead focused on margin/expense dynamics plus the timing of the finance leadership transition.

Sources:

Zimmer Biomet Investor Relations, U.S. SEC, Yahoo Finance

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ZBH Insider Trading Activity

$ZBH insiders have traded $ZBH stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $ZBH stock by insiders over the last 6 months:

LORI WINKLER (SVP and CHRO) sold 2,650 shares for an estimated $250,849
SANG YI (Group President, Asia Pacific) sold 1,000 shares for an estimated $96,490

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

$ZBH Hedge Fund Activity

We have seen 360 institutional investors add shares of $ZBH stock to their portfolio, and 475 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

HARRIS ASSOCIATES L P added 7,514,136 shares (+158.2%) to their portfolio in Q4 2025, for an estimated $675,671,109
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 4,539,679 shares (-75.7%) from their portfolio in Q4 2025, for an estimated $408,207,935
M&T BANK CORP added 3,548,998 shares (+15705.6%) to their portfolio in Q4 2025, for an estimated $319,125,900
FRANKLIN RESOURCES INC added 2,017,857 shares (+43.2%) to their portfolio in Q4 2025, for an estimated $181,445,701
AUTO-OWNERS INSURANCE CO removed 1,987,362 shares (-98.9%) from their portfolio in Q1 2026, for an estimated $176,457,871
PRICE T ROWE ASSOCIATES INC /MD/ removed 1,450,619 shares (-9.6%) from their portfolio in Q4 2025, for an estimated $130,439,660
ROYAL BANK OF CANADA removed 999,524 shares (-71.1%) from their portfolio in Q4 2025, for an estimated $89,877,198

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$ZBH Government Contracts

We have seen $12,830,417 of award payments to $ZBH over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

8511452441!OTHER MEDICAL: $523,078
4568909454!PERSONA INSTRUMENTS: $236,286
BASE PLUS TWO YEAR SERVICE AGREEMENT. ROSA KNEE PREMIUM AND LITE WARRANTY: $197,500
THE PURPOSE OF THIS DELIVERY ORDER IS TO PAY THE UNPAID INVOICES FOR FY24 AND FY25. THIS DELIVERY ORDER IS ...: $195,000
PREVENTIVE MAINTENANCE AND REPAIR SERVICE FOR ROSA ONE BRAIN SYSTEM: $98,000

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$ZBH Analyst Ratings

Wall Street analysts have issued reports on $ZBH in the last several months. We have seen 1 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

RBC Capital issued a "Outperform" rating on 11/06/2025
UBS issued a "Sell" rating on 11/06/2025

To track analyst ratings and price targets for $ZBH, check out Quiver Quantitative's $ZBH forecast page.

$ZBH Price Targets

Multiple analysts have issued price targets for $ZBH recently. We have seen 12 analysts offer price targets for $ZBH in the last 6 months, with a median target of $100.0.

Here are some recent targets:

Mike Kratky from Leerink Partners set a target price of $101.0 on 04/13/2026
Matt Miksic from Barclays set a target price of $100.0 on 02/12/2026
Joanne Wuensch from Citigroup set a target price of $98.0 on 02/11/2026
Larry Biegelsen from Wells Fargo set a target price of $98.0 on 02/11/2026
Ryan Zimmerman from BTIG set a target price of $112.0 on 02/10/2026
Danielle Antalffy from UBS set a target price of $86.0 on 01/28/2026
Lee Hambright from Bernstein set a target price of $99.0 on 01/09/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.