MGO One Seven LLC Purchases 1,389 Shares of Zimmer Biomet Holdings, Inc. $ZBH

MGO One Seven LLC boosted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 59.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,717 shares of the medical equipment provider’s stock after acquiring an additional 1,389 shares during the period. MGO One Seven LLC’s holdings in Zimmer Biomet were worth $339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in Zimmer Biomet by 34.4% during the 2nd quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock worth $2,446,000 after acquiring an additional 6,867 shares during the period. OneDigital Investment Advisors LLC bought a new stake in shares of Zimmer Biomet during the first quarter valued at approximately $269,000. State of Alaska Department of Revenue raised its position in shares of Zimmer Biomet by 89.8% during 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 during the last quarter. Thomasville National Bank raised its position in shares of Zimmer Biomet by 3.0% during 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 during the last quarter. Finally, Bridge Creek Capital Management LLC raised its position in shares of Zimmer Biomet by 12.3% during 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 during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 2.1%

Shares of NYSE ZBH opened at $102.00 on Monday. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $114.72. The firm has a 50-day simple moving average of $101.74 and a two-hundred day simple moving average of $97.68. The company has a market cap of $20.21 billion, a P/E ratio of 24.82, a PEG ratio of 2.35 and a beta of 0.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96.

Zimmer Biomet (NYSE:ZBH) last released 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 firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm posted $2.01 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BTIG Research lifted their price objective on shares of Zimmer Biomet from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, October 13th. UBS Group raised their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a “sell” rating in a report on Friday, August 8th. Raymond James Financial raised their target price on shares of Zimmer Biomet from $104.00 to $113.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Roth Capital reissued a “buy” rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Finally, Evercore ISI cut their target price on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $111.94.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $104.15, for a total value of $156,225.00. Following the transaction, the senior vice president directly owned 6,833 shares in the company, valued at $711,656.95. This represents a 18.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Zimmer Biomet Company Profile

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.