Kovitz Investment Group Partners LLC Has $7.14 Million Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in Zimmer Biomet by 346.8% in the first quarter, bringing their total ownership to 63,069 shares valued at approximately $7.1 million.
• Zimmer Biomet reported earnings of $2.07 per share, exceeding the consensus estimate, alongside a 7.0% year-over-year revenue growth to $2.08 billion.
• Raymond James Financial raised their price target for Zimmer Biomet shares from $104.00 to $113.00, indicating a favorable outlook for the stock.

Kovitz Investment Group Partners LLC boosted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 346.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,069 shares of the medical equipment provider's stock after acquiring an additional 48,952 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Zimmer Biomet were worth $7,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet during the first quarter worth $29,000. Menard Financial Group LLC purchased a new position in Zimmer Biomet in the fourth quarter valued at $30,000. Washington Trust Advisors Inc. acquired a new stake in Zimmer Biomet in the first quarter valued at $30,000. Columbia River Financial Group LLC acquired a new stake in Zimmer Biomet in the first quarter valued at $30,000. Finally, Accent Capital Management LLC acquired a new stake in Zimmer Biomet in the first quarter valued at $35,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Insider Transactions 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 value of $95,000.00. Following the completion of the transaction, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ZBH has been the topic of a number of research analyst reports. Truist Financial set a $101.00 target price on Zimmer Biomet in a research report on Tuesday, May 6th. Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Morgan Stanley decreased their price target on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $111.44.

Zimmer Biomet Stock Up 1.3%

Shares of Zimmer Biomet stock traded up $1.3780 during trading hours on Wednesday, hitting $105.6880. 1,844,247 shares of the company's stock traded hands, compared to its average volume of 2,066,566. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. The stock has a 50 day simple moving average of $94.74 and a 200-day simple moving average of $99.30. The company has a market cap of $20.94 billion, a PE ratio of 25.71, a PEG ratio of 2.02 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results 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. 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 for the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter last year, the company posted $2.01 earnings per share. The company's quarterly revenue was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

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

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.