Exchange Traded Concepts LLC Acquires 7,549 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Exchange Traded Concepts LLC boosted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 453.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,214 shares of the medical equipment provider’s stock after purchasing an additional 7,549 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Zimmer Biomet were worth $908,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC boosted its position in shares of Zimmer Biomet by 83.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 149 shares during the period. Headlands Technologies LLC acquired a new position in Zimmer Biomet during the 2nd quarter valued at $37,000. CoreFirst Bank & Trust bought a new stake in Zimmer Biomet in the 2nd quarter valued at $38,000. Hilltop National Bank acquired a new stake in Zimmer Biomet in the 2nd quarter worth $42,000. Finally, True Wealth Design LLC increased its holdings in shares of Zimmer Biomet by 875.0% during the 2nd quarter. True Wealth Design LLC now owns 468 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 420 shares during the period. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $90.78 on Monday. The business has a 50 day simple moving average of $94.07 and a 200 day simple moving average of $96.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.39. The company has a market capitalization of $17.99 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 2.39 and a beta of 0.61. Zimmer Biomet Holdings, Inc. has a one year low of $85.33 and a one year high of $114.44.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Zimmer Biomet had a return on equity of 12.85% and a net margin of 10.05%.The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, December 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 23.76%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZBH. Barclays reduced their target price on shares of Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating for the company in a research note on Wednesday, November 5th. Citigroup decreased their price objective on Zimmer Biomet from $98.00 to $94.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Baird R W cut Zimmer Biomet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zimmer Biomet in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $110.00 price target on shares of Zimmer Biomet in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve 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 target price of $107.50.

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.