Cresset Asset Management LLC Boosts Stock Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

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Cresset Asset Management LLC lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 16.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,219 shares of the medical equipment provider's stock after buying an additional 6,011 shares during the period. Cresset Asset Management LLC's holdings in Zimmer Biomet were worth $4,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at approximately $269,000. Keybank National Association OH raised its position in shares of Zimmer Biomet by 61.2% in the 1st quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock valued at $1,620,000 after purchasing an additional 5,434 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Zimmer Biomet by 26.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock valued at $35,800,000 after purchasing an additional 66,114 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Zimmer Biomet by 20.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock valued at $295,000 after purchasing an additional 435 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Zimmer Biomet by 10.8% in the 4th quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock valued at $10,144,000 after purchasing an additional 9,341 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet 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 transaction, the insider owned 20,424 shares in the company, valued at approximately $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Performance

ZBH stock traded up $3.2070 during trading on Friday, hitting $107.6270. 1,099,322 shares of the company traded hands, compared to its average volume of 2,055,610. The stock's 50-day simple moving average is $95.19 and its 200 day simple moving average is $99.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The company has a market cap of $21.32 billion, a PE ratio of 26.19, a P/E/G ratio of 2.08 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71.

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

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. Zimmer Biomet's dividend payout ratio is currently 23.36%.

Analysts Set New Price Targets

Several equities analysts recently commented on ZBH shares. Wells Fargo & Company decreased their price objective on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Evercore ISI decreased their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group dropped their target price on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Royal Bank Of Canada upped their target price on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, UBS Group upped their target price on Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $111.44.

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.