Zimmer Biomet Holdings, Inc. $ZBH Shares Bought by Sector Gamma AS

Sector Gamma AS raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,478 shares of the medical equipment provider’s stock after purchasing an additional 24,847 shares during the quarter. Zimmer Biomet accounts for 2.8% of Sector Gamma AS’s investment portfolio, making the stock its 11th biggest holding. Sector Gamma AS owned about 0.06% of Zimmer Biomet worth $11,178,000 as of its most recent filing with the Securities and Exchange Commission.

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

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $86.55 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.39 and a current ratio of 2.43. The stock has a market cap of $17.15 billion, a PE ratio of 21.42, a P/E/G ratio of 2.21 and a beta of 0.62. Zimmer Biomet Holdings, Inc. has a 1 year low of $85.33 and a 1 year high of $114.44. The stock has a fifty day moving average price of $91.34 and a 200 day moving average price of $96.25.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results 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. Zimmer Biomet had a return on equity of 12.85% and a net margin of 10.05%.The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business posted $1.74 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Zimmer Biomet’s dividend payout ratio is 23.76%.

Analyst Upgrades and Downgrades

ZBH has been the topic of a number of analyst reports. Royal Bank Of Canada lowered their price objective on Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Barclays decreased their price target on Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zimmer Biomet in a research report on Wednesday. Canaccord Genuity Group reduced their target price on Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating for the company in a report on Monday, November 10th. Finally, Stifel Nicolaus set a $110.00 price target on shares of Zimmer Biomet in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $107.33.

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.