Franklin Resources Inc. Acquires 615,014 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Franklin Resources Inc. boosted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,673,860 shares of the medical equipment provider’s stock after purchasing an additional 615,014 shares during the quarter. Franklin Resources Inc. owned about 2.36% of Zimmer Biomet worth $426,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZBH. Accent Capital Management LLC bought a new stake in shares of Zimmer Biomet during the first quarter valued at approximately $35,000. Hilltop National Bank purchased a new position in Zimmer Biomet during the second quarter valued at $42,000. True Wealth Design LLC increased its holdings in Zimmer Biomet by 875.0% in the 2nd quarter. True Wealth Design LLC now owns 468 shares of the medical equipment provider’s stock valued at $43,000 after acquiring an additional 420 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Zimmer Biomet in the 1st quarter valued at $48,000. Finally, Brooklyn Investment Group lifted its stake in Zimmer Biomet by 45.9% in the 1st quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider’s stock worth $52,000 after purchasing an additional 145 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $92.12 on Friday. The business’s 50 day moving average price is $97.17 and its 200-day moving average price is $96.75. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $85.33 and a fifty-two week high of $114.44. The company has a market cap of $18.26 billion, a P/E ratio of 22.41, 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 issued its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company earned $1.74 earnings per share. Zimmer Biomet’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. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, September 30th. Zimmer Biomet’s dividend payout ratio is presently 23.76%.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,500 shares of the 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 sale, the senior vice president directly owned 6,833 shares of the company’s stock, valued at $711,656.95. This represents a 18.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.39% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ZBH shares. Wall Street Zen cut Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. BTIG Research cut their price target on Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Roth Capital reaffirmed a “buy” rating on shares of Zimmer Biomet in a report on Thursday, August 7th. 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. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $100.00 price target (down previously from $115.00) on shares of Zimmer Biomet in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.00.

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.