Rafferty Asset Management LLC Sells 4,149 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Rafferty Asset Management LLC reduced its holdings in Zimmer Biomet Holdings by 18.4% in Q1 2023, now owning 18,431 shares worth approximately $2,086,000.
• Several institutional investors adjusted their positions in Zimmer Biomet, with 88.89% of the stock currently owned by hedge funds and other institutional investors.
• Zimmer Biomet announced a quarterly dividend of $0.24 per share, which will be paid on October 31st, representing an annualized yield of 0.9%.

Rafferty Asset Management LLC decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 18.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,431 shares of the medical equipment provider's stock after selling 4,149 shares during the quarter. Rafferty Asset Management LLC's holdings in Zimmer Biomet were worth $2,086,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in Zimmer Biomet by 0.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock worth $2,903,000 after purchasing an additional 118 shares during the last quarter. Curbstone Financial Management Corp boosted its position in shares of Zimmer Biomet by 3.4% in the first quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock valued at $483,000 after acquiring an additional 140 shares during the period. Brooklyn Investment Group grew its stake in shares of Zimmer Biomet by 45.9% in the first quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider's stock valued at $52,000 after acquiring an additional 145 shares in the last quarter. Roberts Wealth Advisors LLC increased its position in Zimmer Biomet by 0.8% during the first quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider's stock worth $2,093,000 after acquiring an additional 152 shares during the period. Finally, Wesbanco Bank Inc. raised its stake in Zimmer Biomet by 0.8% in the 1st quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider's stock worth $2,265,000 after purchasing an additional 163 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Sang Yi sold 1,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Zimmer Biomet Trading Down 0.3%

Shares of Zimmer Biomet stock traded down $0.31 during trading on Thursday, hitting $104.73. The company's stock had a trading volume of 408,861 shares, compared to its average volume of 2,007,745. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.09 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 52 week low of $89.22 and a 52 week high of $114.72. The stock has a 50-day moving average price of $97.88 and a two-hundred day moving average price of $99.58.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.01 earnings per share. 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 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. Stockholders of record on Tuesday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. Zimmer Biomet's payout ratio is currently 23.36%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ZBH shares. Evercore ISI cut their price target on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research note on Tuesday, July 8th. JMP Securities reduced their price objective on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Canaccord Genuity Group reduced their price target on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Raymond James Financial lifted their price objective on shares of Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Zimmer Biomet has a consensus rating of "Hold" and an average target price of $111.44.

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.