Moore Capital Management LP Purchases New Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Moore Capital Management acquired 198,642 Zimmer Biomet shares worth approximately $17.1 million, while institutional investors overall own 88.89% of the company.
• Analyst sentiment remains mixed, with Zimmer Biomet carrying an average “Hold” rating and a consensus price target of $104.42; several firms recently raised their targets to between $106 and $110.
• Zimmer Biomet exceeded quarterly expectations, reporting $2.07 in adjusted EPS and $2.18 billion in revenue, up 4.8% year over year. The company also declared a quarterly dividend of $0.24 per share, yielding about 0.9% annually.

Moore Capital Management LP purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 198,642 shares of the medical equipment provider's stock, valued at approximately $17,101,000. Moore Capital Management LP owned approximately 0.10% of Zimmer Biomet as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Zimmer Biomet in the 2nd quarter worth approximately $1,344,282,000. Primecap Management Co. CA acquired a new position in Zimmer Biomet in the second quarter worth $328,578,000. Norges Bank acquired a new position in Zimmer Biomet in the fourth quarter worth $221,234,000. Bank of America Corp DE bought a new stake in shares of Zimmer Biomet during the second quarter worth $187,480,000. Finally, Franklin Resources Inc. increased its stake in shares of Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider's stock valued at $601,204,000 after buying an additional 2,017,857 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Zacks Research raised shares of Zimmer Biomet from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Stifel Nicolaus upped their price objective on Zimmer Biomet from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada increased their price objective on Zimmer Biomet from $101.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Wall Street Zen cut Zimmer Biomet from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Truist Financial boosted their target price on Zimmer Biomet from $92.00 to $106.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $104.42.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $101.10 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.94. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.45. Zimmer Biomet Holdings, Inc. has a one year low of $79.12 and a one year high of $106.88. The stock's 50-day moving average is $93.88 and its 200-day moving average is $91.46.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.06. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period last year, the business earned $2.07 EPS. The business's quarterly revenue was up 4.8% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.54 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, 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 0.9%. The ex-dividend date is Wednesday, September 30th. Zimmer Biomet's payout ratio is presently 23.36%.

Zimmer Biomet Company Profile

Zimmer Biomet NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company's product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.

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