Matrix Asset Advisors Inc. NY Lowers Stake in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Matrix Asset Advisors Inc. NY reduced its stake in Zimmer Biomet Holdings, Inc. by 3.2% during the second quarter, owning 126,923 shares worth approximately $11.58 million as of the latest SEC filing.
• Zimmer Biomet recently declared a quarterly dividend of $0.24 per share, with a total annualized dividend of $0.96 representing a yield of 1.0%.
• Analysts have mixed ratings for Zimmer Biomet, with a consensus rating of "Hold" and an average price target of $112.67, reflecting varied investor confidence in the company's stock performance.

Matrix Asset Advisors Inc. NY lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,923 shares of the medical equipment provider's stock after selling 4,173 shares during the period. Matrix Asset Advisors Inc. NY owned 0.06% of Zimmer Biomet worth $11,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. purchased a new stake in shares of Zimmer Biomet during the 1st quarter valued at $29,000. Washington Trust Advisors Inc. purchased a new stake in shares of Zimmer Biomet during the 1st quarter valued at $30,000. Columbia River Financial Group LLC purchased a new stake in shares of Zimmer Biomet during the 1st quarter valued at $30,000. Accent Capital Management LLC purchased a new stake in shares of Zimmer Biomet during the 1st quarter valued at $35,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Zimmer Biomet by 1,452.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider's stock valued at $37,000 after purchasing an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

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 transaction of $156,225.00. Following the sale, the senior vice president directly owned 6,833 shares of the company's stock, valued at approximately $711,656.95. This trade represents a 18.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.39% of the company's stock.

Zimmer Biomet Price Performance

Shares of ZBH opened at $94.79 on Friday. The business's 50-day moving average is $101.31 and its two-hundred day moving average is $98.25. The company has a market capitalization of $18.78 billion, a P/E ratio of 23.06, a P/E/G ratio of 2.18 and a beta of 0.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $114.72.

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, topping the consensus estimate of $1.98 by $0.09. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend 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%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Redburn Partners set a $130.00 price objective on Zimmer Biomet in a report on Thursday, September 18th. Raymond James Financial raised their target price on Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Rothschild Redb upgraded Zimmer Biomet to a "strong-buy" rating in a research note on Thursday, September 18th. Evercore ISI reduced their target price on Zimmer Biomet from $106.00 to $104.00 and set an "in-line" rating for the company in a research note on Tuesday, October 7th. Finally, Rothschild & Co Redburn began coverage on Zimmer Biomet in a research note on Thursday, September 18th. They issued a "buy" rating and a $130.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Zimmer Biomet has a consensus rating of "Hold" and an average price target of $112.67.

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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