Ethic Inc. Acquires 7,833 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Ethic Inc. raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 126.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,041 shares of the medical equipment provider’s stock after buying an additional 7,833 shares during the quarter. Ethic Inc.’s holdings in Zimmer Biomet were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ZBH. Resona Asset Management Co. Ltd. lifted its position in Zimmer Biomet by 5.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 67,915 shares of the medical equipment provider’s stock worth $6,197,000 after buying an additional 3,634 shares during the last quarter. QSM Asset Management Ltd boosted its stake in shares of Zimmer Biomet by 36.1% during the 2nd quarter. QSM Asset Management Ltd now owns 111,500 shares of the medical equipment provider’s stock worth $10,174,000 after purchasing an additional 29,600 shares during the period. Truist Financial Corp grew its holdings in Zimmer Biomet by 34.4% during the 2nd quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock valued at $2,446,000 after purchasing an additional 6,867 shares during the last quarter. Magellan Asset Management Ltd raised its position in Zimmer Biomet by 16.8% in the 2nd quarter. Magellan Asset Management Ltd now owns 505,901 shares of the medical equipment provider’s stock worth $46,143,000 after purchasing an additional 72,613 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in Zimmer Biomet by 89.8% in the second quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider’s stock worth $4,036,000 after purchasing an additional 20,945 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

ZBH opened at $90.06 on Friday. The company has a market capitalization of $17.85 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.29 and a beta of 0.62. The company has a current ratio of 2.43, a quick ratio of 1.39 and a debt-to-equity ratio of 0.59. Zimmer Biomet Holdings, Inc. has a 12-month low of $85.33 and a 12-month high of $114.44. The business’s fifty day simple moving average is $92.78 and its 200-day simple moving average is $96.47.

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

Zimmer Biomet Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays cut their target price on Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Canaccord Genuity Group reduced their target price on Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, November 10th. Royal Bank Of Canada lowered their target price on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, BTIG Research reduced their price target on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $107.50.

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.