Zimmer Biomet Holdings, Inc. $ZBH Holdings Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 24.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,503 shares of the medical equipment provider’s stock after acquiring an additional 41,538 shares during the period. New York State Common Retirement Fund owned 0.11% of Zimmer Biomet worth $20,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ZBH. Rakuten Investment Management Inc. bought a new position in Zimmer Biomet in the 3rd quarter worth about $37,307,000. Sector Gamma AS boosted its position in shares of Zimmer Biomet by 28.0% during the third quarter. Sector Gamma AS now owns 113,478 shares of the medical equipment provider’s stock worth $11,178,000 after buying an additional 24,847 shares during the period. Resona Asset Management Co. Ltd. boosted its position in shares of Zimmer Biomet by 5.7% during the second quarter. Resona Asset Management Co. Ltd. now owns 67,915 shares of the medical equipment provider’s stock worth $6,197,000 after buying an additional 3,634 shares during the period. SG Americas Securities LLC grew its holdings in Zimmer Biomet by 29.2% in the 3rd quarter. SG Americas Securities LLC now owns 61,110 shares of the medical equipment provider’s stock worth $6,019,000 after buying an additional 13,812 shares in the last quarter. Finally, Truist Financial Corp increased its position in Zimmer Biomet by 34.4% in the 2nd quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock valued at $2,446,000 after acquiring an additional 6,867 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $87.04 on Friday. The company has a 50-day moving average of $91.01 and a 200-day moving average of $95.97. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62. The company has a current ratio of 2.43, a quick ratio of 1.39 and a debt-to-equity ratio of 0.59. Zimmer Biomet Holdings, Inc. has a twelve month low of $84.59 and a twelve month high of $114.44.

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 the consensus estimate of $1.88 by $0.02. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 23.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $100.00 price target (down previously from $115.00) on shares of Zimmer Biomet 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 for the company in a report on Wednesday, November 5th. UBS Group lowered their target price on shares of Zimmer Biomet from $88.00 to $86.00 and set a “sell” rating on the stock in a research note on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $112.00 price target on shares of Zimmer Biomet in a research note on Thursday, January 8th. Finally, Evercore ISI upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $94.00 to $120.00 in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $107.24.

Zimmer Biomet Company Profile

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.