Applied Finance Capital Management LLC Invests $445,000 in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Applied Finance Capital Management LLC has invested $445,000 in Zimmer Biomet Holdings, Inc., acquiring nearly 5,000 shares of the medical equipment provider during the second quarter.
• Zimmer Biomet reported better-than-expected quarterly earnings, with an EPS of $2.07 and revenues of $2.08 billion, exceeding analyst estimates.
• The company announced a quarterly dividend of $0.24 per share, yielding approximately 0.9%, with the payment scheduled for October 31st.

Applied Finance Capital Management LLC purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,882 shares of the medical equipment provider's stock, valued at approximately $445,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Truist Financial Corp raised its position in shares of Zimmer Biomet by 34.4% during the 2nd quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider's stock valued at $2,446,000 after purchasing an additional 6,867 shares during the period. OneDigital Investment Advisors LLC bought a new stake in shares of Zimmer Biomet in the 1st quarter worth about $269,000. State of Alaska Department of Revenue boosted its stake in shares of Zimmer Biomet by 89.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider's stock worth $4,036,000 after purchasing an additional 20,945 shares during the period. Thomasville National Bank boosted its stake in shares of Zimmer Biomet by 3.0% during the 2nd quarter. Thomasville National Bank now owns 105,805 shares of the medical equipment provider's stock worth $9,650,000 after purchasing an additional 3,053 shares during the period. Finally, Bridge Creek Capital Management LLC boosted its stake in shares of Zimmer Biomet by 12.3% during the 2nd quarter. Bridge Creek Capital Management LLC now owns 30,133 shares of the medical equipment provider's stock worth $2,748,000 after purchasing an additional 3,297 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Trading Up 2.1%

NYSE ZBH opened at $102.00 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. The firm has a market cap of $20.21 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.30 and a beta of 0.67. The company has a 50 day moving average price of $101.74 and a 200 day moving average price of $97.88. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $114.72.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. Zimmer Biomet's revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid 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 23.36%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ZBH shares. BTIG Research lifted their price target on shares of Zimmer Biomet from $118.00 to $122.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. Stifel Nicolaus boosted their price objective on shares of Zimmer Biomet from $115.00 to $118.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Roth Capital reaffirmed a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Raymond James Financial upped their price target on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Redburn Partners set a $130.00 price target on shares of Zimmer Biomet in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average price target of $111.94.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,500 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the completion of the transaction, the senior vice president owned 6,833 shares in the company, valued at $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.39% of the stock is currently owned by company insiders.

Zimmer Biomet Profile

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.

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