Forum Financial Management LP Increases Stake in Zimmer Biomet Holdings, Inc. $ZBH

Forum Financial Management LP boosted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.0% in the 2nd quarter, Holdings Channel reports. The fund owned 5,423 shares of the medical equipment provider’s stock after buying an additional 864 shares during the period. Forum Financial Management LP’s holdings in Zimmer Biomet were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp increased its position in shares of Zimmer Biomet by 34.4% in the second quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock valued at $2,446,000 after buying an additional 6,867 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $269,000. State of Alaska Department of Revenue increased its position in shares of Zimmer Biomet by 89.8% in the second quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider’s stock valued at $4,036,000 after buying an additional 20,945 shares in the last quarter. Thomasville National Bank increased its position in shares of Zimmer Biomet by 3.0% in the second quarter. Thomasville National Bank now owns 105,805 shares of the medical equipment provider’s stock valued at $9,650,000 after buying an additional 3,053 shares in the last quarter. Finally, Bridge Creek Capital Management LLC increased its position in shares of Zimmer Biomet by 12.3% in the second quarter. Bridge Creek Capital Management LLC now owns 30,133 shares of the medical equipment provider’s stock valued at $2,748,000 after buying an additional 3,297 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Rothschild & Co Redburn assumed coverage on Zimmer Biomet in a research report on Thursday, September 18th. They issued a “buy” rating and a $130.00 price objective for the company. Canaccord Genuity Group restated a “hold” rating and issued a $101.00 price objective on shares of Zimmer Biomet in a research report on Wednesday. Roth Capital restated a “buy” rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Rothschild Redb upgraded Zimmer Biomet to a “strong-buy” rating in a research report on Thursday, September 18th. Finally, UBS Group boosted their price objective on Zimmer Biomet from $91.00 to $96.00 and gave the company a “sell” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $111.94.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH opened at $103.14 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The business’s 50 day moving average price is $101.86 and its 200-day moving average price is $97.71. The firm has a market capitalization of $20.43 billion, a PE ratio of 25.09, a P/E/G ratio of 2.37 and a beta of 0.67. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $114.72.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. Zimmer Biomet’s payout ratio is 23.36%.

Insiders Place Their Bets

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $104.15, for a total transaction of $156,225.00. Following the transaction, the senior vice president owned 6,833 shares of the company’s stock, valued at approximately $711,656.95. The trade was a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.39% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.