Adage Capital Partners GP L.L.C. Acquires New Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Adage Capital Partners GP L.L.C. acquired a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 37,239 shares of the medical equipment provider's stock, valued at approximately $4,215,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. acquired a new stake in Zimmer Biomet in the 1st quarter valued at $29,000. Washington Trust Advisors Inc. acquired a new stake in Zimmer Biomet in the 1st quarter valued at $30,000. Columbia River Financial Group LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at $30,000. Menard Financial Group LLC acquired a new stake in Zimmer Biomet in the 4th quarter valued at $30,000. Finally, Accent Capital Management LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ZBH. Evercore ISI dropped their price target on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 8th. Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Canaccord Genuity Group decreased their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Royal Bank Of Canada raised their price objective on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Raymond James Financial raised their price objective on Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $111.00.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the insider owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Zimmer Biomet Trading Down 0.8%

Shares of NYSE ZBH traded down $0.87 during trading on Tuesday, hitting $103.84. 1,282,597 shares of the company were exchanged, compared to its average volume of 1,220,309. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $114.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. The company has a fifty day moving average price of $98.89 and a 200-day moving average price of $99.61. The firm has a market capitalization of $20.57 billion, a PE ratio of 25.27, a P/E/G ratio of 2.06 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the firm earned $2.01 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

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

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.