Exchange Traded Concepts LLC Has $908,000 Position in Zimmer Biomet Holdings, Inc. $ZBH

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

Several other large investors have also recently bought and sold shares of the business. Legacy Wealth Asset Management LLC boosted its position in Zimmer Biomet by 2.3% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 4,670 shares of the medical equipment provider’s stock worth $460,000 after acquiring an additional 106 shares during the period. Brighton Jones LLC lifted its position in shares of Zimmer Biomet by 4.6% in the third quarter. Brighton Jones LLC now owns 5,442 shares of the medical equipment provider’s stock worth $536,000 after purchasing an additional 240 shares in the last quarter. Thomasville National Bank boosted its holdings in shares of Zimmer Biomet by 4.6% during the third quarter. Thomasville National Bank now owns 110,653 shares of the medical equipment provider’s stock worth $10,899,000 after purchasing an additional 4,848 shares during the period. Douglas Lane & Associates LLC grew its position in Zimmer Biomet by 7.2% during the third quarter. Douglas Lane & Associates LLC now owns 431,360 shares of the medical equipment provider’s stock valued at $42,489,000 after purchasing an additional 29,011 shares in the last quarter. Finally, Benson Investment Management Company Inc. acquired a new position in Zimmer Biomet in the 3rd quarter valued at approximately $4,967,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

ZBH opened at $90.78 on Monday. 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 company has a market cap 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. The stock has a 50-day moving average of $94.07 and a 200-day moving average of $96.60. Zimmer Biomet Holdings, Inc. has a 52-week low of $85.33 and a 52-week high of $114.44.

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

Zimmer Biomet Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ZBH shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Zimmer Biomet in a research note on Wednesday, October 8th. Canaccord Genuity Group lowered 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. Citigroup dropped their target price on Zimmer Biomet from $98.00 to $94.00 and set a “neutral” rating on the stock in a research report on Thursday, December 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $100.00 price target (down from $115.00) on shares of Zimmer Biomet in a report on Thursday, November 6th. Finally, Johnson Rice set a $112.00 price target on Zimmer Biomet 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.