Reinhart Partners LLC. Has $6.73 Million Stock Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Reinhart Partners LLC reduced its stake in Zimmer Biomet Holdings by 8.1%, holding 73,795 shares after selling 6,510 shares, valued at approximately $6.73 million at the latest reporting period.
• Multiple hedge funds have increased their investments in Zimmer Biomet, with Vanguard Group and JPMorgan Chase & Co. notably boosting their stakes by 0.7% and 251.3%, respectively.
• The stock has recently seen price upgrades from analysts, with targets ranging from $96.00 to $115.00, reflecting an overall optimistic outlook despite a diverse range of ratings from "buy" to "sell."

Reinhart Partners LLC. decreased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 73,795 shares of the medical equipment provider's stock after selling 6,510 shares during the period. Reinhart Partners LLC.'s holdings in Zimmer Biomet were worth $6,731,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. OneDigital Investment Advisors LLC bought a new stake in shares of Zimmer Biomet during the 1st quarter worth about $269,000. Keybank National Association OH boosted its holdings in shares of Zimmer Biomet by 61.2% during the 1st quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock worth $1,620,000 after buying an additional 5,434 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Zimmer Biomet by 26.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock worth $35,800,000 after buying an additional 66,114 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in shares of Zimmer Biomet by 20.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock worth $295,000 after buying an additional 435 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Zimmer Biomet during the 1st quarter worth about $6,462,000. Institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Rothschild & Co Redburn started coverage on shares of Zimmer Biomet in a report on Thursday. They set a "buy" rating and a $130.00 target price for the company. Roth Capital reiterated a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Evercore ISI dropped their price objective on shares of 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. Finally, Raymond James Financial lifted their price objective on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $112.06.

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the business'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 completion of the transaction, the senior vice president directly owned 6,833 shares in the company, valued at approximately $711,656.95. The trade was a 18.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.39% of the company's stock.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH traded up $0.23 during midday trading on Thursday, hitting $100.15. The stock had a trading volume of 1,304,545 shares, compared to its average volume of 1,179,208. The company's 50-day moving average price is $99.93 and its 200-day moving average price is $99.46. The company has a market capitalization of $19.84 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. 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 issued its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.98 by $0.09. The company had revenue of $2.08 billion during 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%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.24 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Zimmer Biomet's payout ratio is presently 23.36%.

Zimmer Biomet 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.