Allstate Corp Makes New Investment in Zimmer Biomet Holdings, Inc. $ZBH

Allstate Corp acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 7,074 shares of the medical equipment provider’s stock, valued at approximately $697,000.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC bought a new position in shares of Zimmer Biomet in the fourth quarter valued at about $204,000. Sivia Capital Partners LLC bought a new stake in shares of Zimmer Biomet during the 2nd quarter worth $232,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Zimmer Biomet by 173.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 47,268 shares of the medical equipment provider’s stock valued at $4,428,000 after purchasing an additional 30,007 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Zimmer Biomet by 25.3% during the second quarter. Farther Finance Advisors LLC now owns 9,145 shares of the medical equipment provider’s stock worth $834,000 after buying an additional 1,845 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in Zimmer Biomet during the 2nd quarter worth $550,000. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Price Performance

ZBH opened at $87.55 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $85.33 and a 12-month high of $114.44. The company has a current ratio of 2.43, a quick ratio of 1.39 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $91.41 and a 200-day moving average price of $96.28. The stock has a market capitalization of $17.35 billion, a P/E ratio of 21.67, a PEG ratio of 2.21 and a beta of 0.62.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Zimmer Biomet’s payout ratio is 23.76%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZBH. Citigroup lowered their price objective on Zimmer Biomet from $98.00 to $94.00 and set a “neutral” rating for the company in a research report on Thursday, December 11th. JPMorgan Chase & Co. restated a “neutral” rating and issued 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 report on Wednesday, October 8th. The Goldman Sachs Group lowered Zimmer Biomet from a “neutral” rating to a “sell” rating and set a $93.00 price objective for the company. in a report on Friday, January 9th. Finally, Royal Bank Of Canada lowered their target price on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $107.33.

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.