QRG Capital Management Inc. Sells 645 Shares of Zimmer Biomet Holdings, Inc. $ZBH

QRG Capital Management Inc. lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,130 shares of the medical equipment provider’s stock after selling 645 shares during the quarter. QRG Capital Management Inc.’s holdings in Zimmer Biomet were worth $559,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZBH. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $29,000. Washington Trust Advisors Inc. acquired a new stake in shares of Zimmer Biomet in the 1st quarter valued at approximately $30,000. Columbia River Financial Group LLC acquired a new stake in Zimmer Biomet during the 1st quarter worth approximately $30,000. Accent Capital Management LLC acquired a new stake in Zimmer Biomet during the 1st quarter worth approximately $35,000. Finally, Cullen Frost Bankers Inc. grew its position in Zimmer Biomet by 1,452.4% in the first quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 305 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $104.15, for a total value of $156,225.00. Following the completion of the transaction, the senior vice president directly owned 6,833 shares in the company, valued at approximately $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Zimmer Biomet in a research report on Wednesday. Royal Bank Of Canada set a $111.00 price objective on shares of Zimmer Biomet in a research note on Friday. UBS Group increased their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a “sell” rating in a research note on Friday, August 8th. Evercore ISI decreased their price target on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating on the stock in a report on Tuesday. Finally, Rothschild Redb raised shares of Zimmer Biomet to a “strong-buy” rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $112.67.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $94.79 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The firm has a 50-day moving average of $101.31 and a 200-day moving average of $98.34. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $114.72. The company has a market cap of $18.78 billion, a P/E ratio of 23.06, a P/E/G ratio of 2.24 and a beta of 0.67.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.09. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 annualized dividend and a yield of 1.0%. Zimmer Biomet’s dividend payout ratio is presently 23.36%.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.