Benson Investment Management Company Inc. Acquires New Position in Zimmer Biomet Holdings, Inc. $ZBH

Benson Investment Management Company Inc. bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,430 shares of the medical equipment provider’s stock, valued at approximately $4,967,000.

Several other institutional investors also recently made changes to their positions in ZBH. Brighton Jones LLC bought a new position in Zimmer Biomet during the 4th quarter worth $204,000. Brooklyn Investment Group boosted its holdings in shares of Zimmer Biomet by 45.9% during the first quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider’s stock valued at $52,000 after acquiring an additional 145 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Zimmer Biomet by 230.6% during the first quarter. Wellington Management Group LLP now owns 36,865 shares of the medical equipment provider’s stock valued at $4,172,000 after acquiring an additional 25,713 shares during the period. Summit Financial LLC grew its position in shares of Zimmer Biomet by 11.8% during the first quarter. Summit Financial LLC now owns 2,151 shares of the medical equipment provider’s stock worth $244,000 after acquiring an additional 227 shares during the last quarter. Finally, CW Advisors LLC increased its holdings in shares of Zimmer Biomet by 8.2% in the 1st quarter. CW Advisors LLC now owns 3,123 shares of the medical equipment provider’s stock worth $353,000 after acquiring an additional 236 shares during the period. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Performance

ZBH opened at $89.25 on Friday. The business has a 50 day moving average price of $94.96 and a two-hundred day moving average price of $96.67. 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 $17.69 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.61. Zimmer Biomet Holdings, Inc. has a 1-year low of $85.33 and a 1-year high of $114.44.

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

Zimmer Biomet Dividend Announcement

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 $0.24 dividend. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. Zimmer Biomet’s payout ratio is currently 23.76%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ZBH shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $100.00 target price (down from $115.00) on shares of Zimmer Biomet in a research note on Thursday, November 6th. Rothschild & Co Redburn started coverage on Zimmer Biomet in a research report on Thursday, September 18th. They set a “buy” rating and a $130.00 price objective for the company. Canaccord Genuity Group decreased their price objective on Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating for the company in a report on Monday, November 10th. BTIG Research cut their target price on Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Zimmer Biomet in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target 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.