Ethic Inc. Raises Stake in Zimmer Biomet Holdings, Inc. $ZBH

Ethic Inc. boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 126.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,041 shares of the medical equipment provider’s stock after purchasing an additional 7,833 shares during the quarter. Ethic Inc.’s holdings in Zimmer Biomet were worth $1,383,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its stake in Zimmer Biomet by 83.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 149 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Zimmer Biomet during the second quarter valued at $37,000. CoreFirst Bank & Trust purchased a new stake in shares of Zimmer Biomet during the second quarter valued at $38,000. Hilltop National Bank bought a new stake in Zimmer Biomet in the 2nd quarter worth about $42,000. Finally, True Wealth Design LLC raised its position in Zimmer Biomet by 875.0% in the 2nd quarter. True Wealth Design LLC now owns 468 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 420 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZBH has been the subject of several research analyst reports. Rothschild Redb raised Zimmer Biomet to a “strong-buy” rating in a report on Thursday, September 18th. Robert W. Baird reaffirmed a “neutral” rating and set a $100.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a research report on Tuesday, December 16th. Royal Bank Of Canada dropped their price objective on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. UBS Group cut their target price on shares of Zimmer Biomet from $96.00 to $88.00 and set a “sell” rating for the company in a research report on Thursday, November 6th. Finally, Johnson Rice set a $112.00 price target on shares of Zimmer Biomet in a research note on Wednesday, November 5th. One research 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’s stock. According to MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $107.50.

Zimmer Biomet Price Performance

NYSE ZBH opened at $90.06 on Friday. 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 stock has a market cap 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’s 50 day moving average is $92.78 and its two-hundred day moving average is $96.47.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current 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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, December 30th. Zimmer Biomet’s payout ratio is presently 23.76%.

Zimmer Biomet Company 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.