Raymond James Financial Inc. Acquires 393,077 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Raymond James Financial Inc. increased its stake in Zimmer Biomet Holdings by 195.5% in the first quarter, acquiring an additional 393,077 shares, bringing its total ownership to approximately $67.24 million.
• Analysts have mixed views on Zimmer Biomet, with target prices ranging from $95.00 to $140.00, while the stock currently has an average price target of $111.44 and a consensus rating of "Hold".
• Zimmer Biomet recently announced a quarterly dividend of $0.24 per share, representing an annualized yield of 0.9% and a payout ratio of 23.36%.

Raymond James Financial Inc. grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 195.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 594,097 shares of the medical equipment provider's stock after buying an additional 393,077 shares during the quarter. Raymond James Financial Inc. owned 0.30% of Zimmer Biomet worth $67,240,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ZBH. Brighton Jones LLC purchased a new stake in shares of Zimmer Biomet during the 4th quarter valued at about $204,000. Jump Financial LLC raised its position in shares of Zimmer Biomet by 63.8% during the 4th quarter. Jump Financial LLC now owns 3,268 shares of the medical equipment provider's stock valued at $345,000 after buying an additional 1,273 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Zimmer Biomet by 72.6% during the 4th quarter. NewEdge Advisors LLC now owns 4,713 shares of the medical equipment provider's stock valued at $498,000 after buying an additional 1,983 shares in the last quarter. First Trust Advisors LP raised its position in shares of Zimmer Biomet by 8.2% during the 4th quarter. First Trust Advisors LP now owns 324,473 shares of the medical equipment provider's stock valued at $34,274,000 after buying an additional 24,671 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Zimmer Biomet by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,000,838 shares of the medical equipment provider's stock valued at $211,348,000 after buying an additional 126,151 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Up 3.1%

ZBH stock traded up $3.2070 during mid-day trading on Friday, reaching $107.6270. The company had a trading volume of 1,099,322 shares, compared to its average volume of 1,763,578. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The company has a market capitalization of $21.32 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. The firm has a 50 day moving average of $95.52 and a 200 day moving average of $99.32. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results 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 business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The company'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 firm earned $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on ZBH. JMP Securities decreased their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Roth Capital reissued a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $111.44.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.39% of the stock is owned by corporate insiders.

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.