Minneapolis Portfolio Management Group LLC Acquires 149,888 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Minneapolis Portfolio Management Group LLC increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 131.2% during the third quarter, Holdings Channel.com reports. The fund owned 264,114 shares of the medical equipment provider’s stock after purchasing an additional 149,888 shares during the quarter. Zimmer Biomet accounts for about 3.0% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 21st biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Zimmer Biomet were worth $26,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC grew its position in shares of Zimmer Biomet by 83.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 149 shares in the last quarter. Mather Group LLC. acquired a new stake in Zimmer Biomet during the third quarter worth approximately $36,000. Headlands Technologies LLC acquired a new stake in Zimmer Biomet during the second quarter worth approximately $37,000. CoreFirst Bank & Trust bought a new position in Zimmer Biomet during the 2nd quarter worth $38,000. Finally, Hilltop National Bank acquired a new position in Zimmer Biomet in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $87.42 on Friday. The company’s 50 day moving average price is $91.59 and its two-hundred day moving average price is $96.46. The firm has a market capitalization of $17.32 billion, a P/E ratio of 21.64, a P/E/G ratio of 2.26 and a beta of 0.62. 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 debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.39.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly 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 12.85% and a net margin of 10.05%.The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $1.74 EPS. Zimmer Biomet’s revenue was up 9.6% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, December 30th. Zimmer Biomet’s payout ratio is 23.76%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wall Street Zen raised Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group cut their price objective on shares of Zimmer Biomet from $96.00 to $88.00 and set a “sell” rating for the company in a research report on Thursday, November 6th. Barclays reduced their price objective on shares of Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 5th. Robert W. Baird restated a “neutral” rating and issued a $100.00 target price (down from $117.00) on shares of Zimmer Biomet in a research report on Tuesday, December 16th. Finally, Canaccord Genuity Group cut their price target on shares of Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating for the company in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $107.33.

About Zimmer Biomet

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.