Wedge Capital Management L L P NC Sells 17,263 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Wedge Capital Management L L P NC trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 21.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,914 shares of the medical equipment provider’s stock after selling 17,263 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Zimmer Biomet were worth $6,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC lifted its holdings in Zimmer Biomet by 83.7% during the second 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 stake in shares of Zimmer Biomet in the second quarter valued at approximately $37,000. CoreFirst Bank & Trust purchased a new stake in shares of Zimmer Biomet during the 2nd quarter valued at approximately $38,000. Hilltop National Bank purchased a new stake in shares of Zimmer Biomet during the 2nd quarter valued at approximately $42,000. Finally, True Wealth Design LLC boosted its holdings 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 period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Down 1.3%

NYSE:ZBH opened at $89.25 on Monday. The company’s 50-day simple moving average is $94.96 and its 200 day simple moving average is $96.71. Zimmer Biomet Holdings, Inc. has a one year low of $85.33 and a one year high of $114.44. The firm has a market capitalization of $17.69 billion, a P/E ratio of 22.09, a PEG ratio of 2.34 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.39.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. Zimmer Biomet’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $1.74 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, analysts forecast 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. Investors 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 is Tuesday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 23.76%.

Wall Street Analyst Weigh In

ZBH has been the subject of several analyst reports. Stifel Nicolaus set a $110.00 target price on shares of Zimmer Biomet in a research note on Wednesday, November 5th. Wall Street Zen downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Royal Bank Of Canada reduced their target price on Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zimmer Biomet in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group dropped their price target on Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $107.50.

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.