Absher Wealth Management LLC Invests $2.34 Million in Zimmer Biomet Holdings, Inc. $ZBH

Absher Wealth Management LLC purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 23,800 shares of the medical equipment provider’s stock, valued at approximately $2,344,000.

A number of other large investors also recently added to or reduced their stakes in ZBH. Dodge & Cox raised its position in shares of Zimmer Biomet by 12.9% in the 2nd quarter. Dodge & Cox now owns 22,097,463 shares of the medical equipment provider’s stock worth $2,015,510,000 after buying an additional 2,533,009 shares during the period. Norges Bank acquired a new position in shares of Zimmer Biomet in the 2nd quarter valued at about $225,867,000. AQR Capital Management LLC grew its holdings in shares of Zimmer Biomet by 276.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider’s stock worth $118,627,000 after purchasing an additional 955,284 shares during the period. Franklin Resources Inc. raised its holdings in Zimmer Biomet by 15.2% in the second quarter. Franklin Resources Inc. now owns 4,673,860 shares of the medical equipment provider’s stock valued at $426,303,000 after buying an additional 615,014 shares during the period. Finally, Invesco Ltd. lifted its position in Zimmer Biomet by 11.5% during the second quarter. Invesco Ltd. now owns 4,606,591 shares of the medical equipment provider’s stock valued at $420,167,000 after buying an additional 475,921 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several research analyst reports. JPMorgan Chase & Co. reiterated 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Zimmer Biomet in a research note on Wednesday, October 8th. Evercore ISI upgraded Zimmer Biomet from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $94.00 to $120.00 in a report on Monday. Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating for the company in a research note on Monday, November 10th. Finally, Stifel Nicolaus set a $110.00 price objective on Zimmer Biomet in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $108.30.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $94.86 on Wednesday. The firm’s 50 day moving average price is $92.44 and its two-hundred day moving average price is $96.60. Zimmer Biomet Holdings, Inc. has a twelve month low of $85.33 and a twelve month high of $114.44. The firm has a market cap of $18.80 billion, a P/E ratio of 23.48, a PEG ratio of 2.36 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.39 and a current ratio of 2.43.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The company had revenue of $2 billion for 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, 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, January 30th. Shareholders of record on Tuesday, December 30th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 23.76%.

Zimmer Biomet 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.