Baird Financial Group Inc. Buys 5,957 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Baird Financial Group Inc. increased its stake in Zimmer Biomet Holdings, purchasing 5,957 shares during the 1st quarter, raising its ownership to 51,982 shares valued at approximately $5.88 million.
• The stock currently has a consensus rating of "Hold" from analysts, with an average target price of $111.44, reflecting varied outlooks on its performance.
• Zimmer Biomet recently reported a quarterly earnings per share of $2.07, beating analysts’ expectations, and announced a quarterly dividend of $0.24 to be paid on October 31st.

Baird Financial Group Inc. raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 12.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,982 shares of the medical equipment provider's stock after purchasing an additional 5,957 shares during the period. Baird Financial Group Inc.'s holdings in Zimmer Biomet were worth $5,883,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ZBH. Garde Capital Inc. bought a new stake in shares of Zimmer Biomet in the first quarter valued at about $29,000. Washington Trust Advisors Inc. acquired a new position in Zimmer Biomet in the 1st quarter valued at approximately $30,000. Columbia River Financial Group LLC acquired a new position in Zimmer Biomet in the 1st quarter valued at approximately $30,000. Menard Financial Group LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $30,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth approximately $35,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded up $0.83 during midday trading on Friday, reaching $105.59. 1,168,434 shares of the company traded hands, compared to its average volume of 1,287,856. 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 stock's 50-day simple moving average is $98.42 and its 200-day simple moving average is $99.61. The firm has a market cap of $20.92 billion, a PE ratio of 25.69, a PEG ratio of 2.08 and a beta of 0.68.

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

Zimmer Biomet Announces Dividend

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

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of recent research reports. Canaccord Genuity Group cut their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Royal Bank Of Canada boosted their price target on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. UBS Group raised their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a report on Friday, August 8th. Finally, Raymond James Financial upped their target price on shares of Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and a consensus price target of $111.00.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is owned by insiders.

Zimmer Biomet Company 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.