Geode Capital Management LLC Grows Position in Zimmer Biomet Holdings, Inc. $ZBH

Geode Capital Management LLC grew its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,124,776 shares of the medical equipment provider’s stock after purchasing an additional 69,485 shares during the period. Geode Capital Management LLC’s holdings in Zimmer Biomet were worth $465,480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC bought a new stake in Zimmer Biomet during the 4th quarter valued at $204,000. CWM LLC grew its position in shares of Zimmer Biomet by 2.3% in the first quarter. CWM LLC now owns 8,078 shares of the medical equipment provider’s stock valued at $914,000 after purchasing an additional 180 shares in the last quarter. Wealthfront Advisers LLC grew its position in shares of Zimmer Biomet by 37.1% in the first quarter. Wealthfront Advisers LLC now owns 3,803 shares of the medical equipment provider’s stock valued at $430,000 after purchasing an additional 1,030 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Zimmer Biomet by 1,452.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 305 shares during the period. Finally, Forum Financial Management LP lifted its holdings in Zimmer Biomet by 29.9% during the 1st quarter. Forum Financial Management LP now owns 4,559 shares of the medical equipment provider’s stock worth $516,000 after purchasing an additional 1,050 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the company’s 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 sale, the senior vice president owned 6,833 shares of the company’s stock, valued at $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ZBH has been the topic of several analyst reports. Johnson Rice set a $112.00 price target on Zimmer Biomet in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $100.00 price objective (down previously from $115.00) on shares of Zimmer Biomet in a research note on Thursday, November 6th. Royal Bank Of Canada lowered their target price on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. 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 on the stock. Finally, Redburn Partners set a $130.00 target price on Zimmer Biomet in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.00.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $89.86 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $85.33 and a 52-week high of $114.72. The company has a fifty day moving average of $98.56 and a 200-day moving average of $97.07. The company has a market capitalization of $17.81 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm earned $1.74 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were given a $0.24 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. Zimmer Biomet’s payout ratio is presently 23.76%.

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.