QSM Asset Management Ltd Acquires 29,600 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• QSM Asset Management Ltd increased its stake in Zimmer Biomet Holdings, acquiring an additional 29,600 shares, leading to a total holding of 111,500 shares, which represents 9.4% of its portfolio.
• Analysts have given Zimmer Biomet a consensus rating of "Moderate Buy" with a target price of $113.16, highlighting a mix of ratings including strong buy, buy, hold, and sell.
• Zimmer Biomet reported a quarterly earnings growth with earnings per share at $2.07, exceeding estimates, alongside a recent dividend declaration of $0.24 per share, reflecting a yield of 0.9%.

QSM Asset Management Ltd raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 36.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,500 shares of the medical equipment provider's stock after buying an additional 29,600 shares during the period. Zimmer Biomet comprises about 9.4% of QSM Asset Management Ltd's holdings, making the stock its 2nd largest position. QSM Asset Management Ltd owned approximately 0.06% of Zimmer Biomet worth $10,174,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Gries Financial LLC lifted its stake in shares of Zimmer Biomet by 108.2% in the second quarter. Gries Financial LLC now owns 16,148 shares of the medical equipment provider's stock valued at $1,473,000 after buying an additional 8,393 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Zimmer Biomet during the 2nd quarter worth $550,000. Farther Finance Advisors LLC boosted its holdings in Zimmer Biomet by 25.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 9,145 shares of the medical equipment provider's stock worth $834,000 after acquiring an additional 1,845 shares during the last quarter. Bridge Creek Capital Management LLC boosted its holdings in Zimmer Biomet by 12.3% during the 2nd quarter. Bridge Creek Capital Management LLC now owns 30,133 shares of the medical equipment provider's stock worth $2,748,000 after acquiring an additional 3,297 shares during the last quarter. Finally, Thomasville National Bank boosted its holdings in Zimmer Biomet by 3.0% during the 2nd quarter. Thomasville National Bank now owns 105,805 shares of the medical equipment provider's stock worth $9,650,000 after acquiring an additional 3,053 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZBH has been the topic of a number of analyst reports. Redburn Partners set a $130.00 price objective on shares of Zimmer Biomet in a report on Thursday. Rothschild Redb upgraded Zimmer Biomet to a "strong-buy" rating in a research note on Thursday, September 18th. Rothschild & Co Redburn began coverage on Zimmer Biomet in a research note on Thursday, September 18th. They set a "buy" rating and a $130.00 target price on the stock. UBS Group lifted their target price on Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research note on Friday, August 8th. Finally, Evercore ISI lowered their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 8th. One research 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $113.16.

Zimmer Biomet Stock Up 1.8%

ZBH stock opened at $101.90 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The company's 50 day moving average is $100.22 and its 200 day moving average is $99.31. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $114.72.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. Zimmer Biomet's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Zimmer Biomet's dividend payout ratio is 23.36%.

Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,500 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $104.15, for a total value of $156,225.00. Following the transaction, the senior vice president directly owned 6,833 shares in the company, valued at approximately $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company's stock.

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.

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