OFI Invest Asset Management Acquires Shares of 910 Zimmer Biomet Holdings, Inc. $ZBH

OFI Invest Asset Management acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 910 shares of the medical equipment provider’s stock, valued at approximately $83,000.

Other large investors also recently modified their holdings of the company. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet during the first quarter valued at about $29,000. Washington Trust Advisors Inc. acquired a new stake in shares of Zimmer Biomet during the first quarter valued at about $30,000. Columbia River Financial Group LLC acquired a new stake in shares of Zimmer Biomet during the first quarter valued at about $30,000. Accent Capital Management LLC acquired a new stake in shares of Zimmer Biomet during the first quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Zimmer Biomet by 1,452.4% during the first quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 305 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on ZBH shares. Raymond James Financial raised their target price on Zimmer Biomet from $104.00 to $113.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Rothschild Redb upgraded Zimmer Biomet to a “strong-buy” rating in a research note on Thursday, September 18th. UBS Group lifted their price target on Zimmer Biomet from $91.00 to $96.00 and gave the stock a “sell” rating in a research note on Friday, August 8th. Redburn Partners set a $130.00 price target on Zimmer Biomet in a research note on Thursday, September 18th. Finally, Royal Bank Of Canada set a $111.00 price target on Zimmer Biomet in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.16.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $95.13 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $101.36 and a two-hundred day moving average of $98.03. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $114.72. The company has a market cap of $18.85 billion, a P/E ratio of 23.15, a PEG ratio of 2.18 and a beta of 0.67.

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

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 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, September 30th. Zimmer Biomet’s payout ratio is presently 23.36%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the completion of the transaction, the senior vice president directly owned 6,833 shares in the company, valued at $711,656.95. The trade was a 18.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by insiders.

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.