154,539 Shares in Zimmer Biomet Holdings, Inc. $ZBH Acquired by ARGA Investment Management LP

ARGA Investment Management LP bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the third quarter, Holdings Channel reports. The fund bought 154,539 shares of the medical equipment provider’s stock, valued at approximately $15,222,000.

Other hedge funds have also recently made changes to their positions in the company. Legacy Wealth Asset Management LLC increased its position in shares of Zimmer Biomet by 2.3% in the third quarter. Legacy Wealth Asset Management LLC now owns 4,670 shares of the medical equipment provider’s stock worth $460,000 after purchasing an additional 106 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Zimmer Biomet by 7.0% during the third quarter. Global Retirement Partners LLC now owns 1,686 shares of the medical equipment provider’s stock valued at $166,000 after buying an additional 111 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in shares of Zimmer Biomet by 0.9% in the third quarter. Generali Asset Management SPA SGR now owns 14,232 shares of the medical equipment provider’s stock worth $1,402,000 after buying an additional 122 shares during the period. Brookstone Capital Management lifted its stake in shares of Zimmer Biomet by 1.3% in the 3rd quarter. Brookstone Capital Management now owns 9,350 shares of the medical equipment provider’s stock valued at $921,000 after acquiring an additional 123 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Zimmer Biomet by 14.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 999 shares of the medical equipment provider’s stock valued at $98,000 after acquiring an additional 123 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Down 1.1%

NYSE:ZBH opened at $86.55 on Friday. The firm has a 50-day simple moving average of $91.34 and a 200-day simple moving average of $96.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.39 and a current ratio of 2.43. The firm has a market cap of $17.15 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.23 and a beta of 0.62. 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 released its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be given 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 23.76%.

Analysts Set New Price Targets

ZBH has been the subject of several recent analyst reports. Evercore ISI raised shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $94.00 to $120.00 in a research note on Monday, January 5th. UBS Group lowered their price target on Zimmer Biomet from $96.00 to $88.00 and set a “sell” rating for the company in a research report on Thursday, November 6th. Canaccord Genuity Group cut their price objective on Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, November 10th. Stifel Nicolaus set a $110.00 target price on Zimmer Biomet in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada cut their target price on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $107.33.

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.