Gries Financial LLC Boosts Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Gries Financial LLC increased its holdings in Zimmer Biomet Holdings, Inc. by 108.2% during the second quarter, now owning 16,148 shares valued at approximately $1,473,000.
• Several hedge funds, including Brighton Jones LLC and Two Sigma Investments LP, have made significant new investments in Zimmer Biomet, reflecting heightened institutional interest in the company.
• Zimmer Biomet recently reported earnings of $2.07 per share for the quarter, surpassing analysts' expectations and showing a 7.0% year-over-year revenue increase.

Gries Financial LLC grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 108.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,148 shares of the medical equipment provider's stock after buying an additional 8,393 shares during the period. Gries Financial LLC's holdings in Zimmer Biomet were worth $1,473,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ZBH. Brighton Jones LLC purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $204,000. Two Sigma Investments LP purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $4,085,000. GF Fund Management CO. LTD. purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $518,000. Forum Financial Management LP increased its stake in shares of Zimmer Biomet by 56.9% during the fourth quarter. Forum Financial Management LP now owns 3,509 shares of the medical equipment provider's stock valued at $371,000 after buying an additional 1,273 shares during the period. Finally, Mackenzie Financial Corp grew its stake in Zimmer Biomet by 7.0% in the fourth quarter. Mackenzie Financial Corp now owns 59,891 shares of the medical equipment provider's stock worth $6,326,000 after purchasing an additional 3,899 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the stock in a transaction dated 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 owned 6,833 shares of the company's stock, valued at approximately $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

Zimmer Biomet Trading Up 1.8%

Shares of NYSE:ZBH opened at $101.90 on Tuesday. The company has a market cap of $20.19 billion, a P/E ratio of 24.79, a PEG ratio of 2.30 and a beta of 0.68. 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 Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $114.72. The stock's fifty day moving average price is $100.22 and its 200-day moving average price is $99.31.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its 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 company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company earned $2.01 earnings per share. Zimmer Biomet'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. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. 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%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ZBH shares. Roth Capital reaffirmed a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. UBS Group upped their price target on Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research note on Friday, August 8th. Raymond James Financial upped their price target on Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Royal Bank Of Canada upped their price target on Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Redburn Partners set a $130.00 price target on Zimmer Biomet in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $113.16.

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.

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