Costello Asset Management INC Sells 6,560 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Costello Asset Management INC significantly reduced its stake in Zimmer Biomet Holdings, Inc. by 69.6%, selling 6,560 shares and holding only 2,860 shares worth $261,000 as of its latest SEC filing.
• Analysts have set a target price of $130.00 for Zimmer Biomet, with a mix of ratings where one analyst rates it as a Strong Buy, ten rate it as Buy, and others as Hold or Sell.
• Zimmer Biomet announced a quarterly dividend of $0.24 per share, payable on October 31st, with a current annualized yield of 1.0% and a payout ratio of 23.36%.

Costello Asset Management INC lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 69.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,860 shares of the medical equipment provider's stock after selling 6,560 shares during the quarter. Costello Asset Management INC's holdings in Zimmer Biomet were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ZBH. Brighton Jones LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $204,000. Farther Finance Advisors LLC lifted its position in shares of Zimmer Biomet by 33.9% in the 1st quarter. Farther Finance Advisors LLC now owns 7,300 shares of the medical equipment provider's stock worth $820,000 after acquiring an additional 1,849 shares during the period. GAMMA Investing LLC lifted its position in shares of Zimmer Biomet by 52.4% in the 1st quarter. GAMMA Investing LLC now owns 3,502 shares of the medical equipment provider's stock worth $396,000 after acquiring an additional 1,204 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Zimmer Biomet by 0.8% in the 1st quarter. Handelsbanken Fonder AB now owns 138,442 shares of the medical equipment provider's stock worth $15,669,000 after buying an additional 1,063 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Zimmer Biomet by 0.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,692 shares of the medical equipment provider's stock worth $3,247,000 after buying an additional 202 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZBH. Redburn Partners set a $130.00 target price on Zimmer Biomet in a report on Thursday, September 18th. Rothschild & Co Redburn began coverage on Zimmer Biomet in a report on Thursday, September 18th. They issued a "buy" rating and a $130.00 target price for the company. Royal Bank Of Canada increased their target price on Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Rothschild Redb raised Zimmer Biomet to a "strong-buy" rating in a report on Thursday, September 18th. Finally, Evercore ISI dropped their target price on Zimmer Biomet from $106.00 to $104.00 and set an "in-line" rating for the company in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $112.89.

Zimmer Biomet Trading Down 1.0%

ZBH stock opened at $97.38 on Friday. The business has a fifty day moving average price of $101.22 and a 200 day moving average price of $98.44. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $114.72. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.26 and a beta of 0.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96.

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

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Zimmer Biomet's dividend payout ratio (DPR) is currently 23.36%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the transaction, the senior vice president directly owned 6,833 shares in the company, valued at approximately $711,656.95. This trade represents a 18.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.39% of the company's stock.

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.

Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.