Sequoia Financial Advisors LLC Increases Stock Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Sequoia Financial Advisors LLC significantly increased its holdings in Zimmer Biomet Holdings by 492.4% in the second quarter, owning nearly 88,000 shares valued at over $8 million.
• The company's stock has a consensus rating of "Hold", with price targets ranging from $91 to $130 set by various analysts.
• Zimmer Biomet announced a quarterly dividend of $0.24 per share, with a dividend yield of 1.0% and a payout ratio of 23.36%.

Sequoia Financial Advisors LLC lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 492.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,885 shares of the medical equipment provider's stock after buying an additional 73,049 shares during the period. Sequoia Financial Advisors LLC's holdings in Zimmer Biomet were worth $8,016,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Garde Capital Inc. acquired a new stake in Zimmer Biomet in the first quarter valued at $29,000. Washington Trust Advisors Inc. purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at about $30,000. Columbia River Financial Group LLC purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at about $30,000. Accent Capital Management LLC purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Zimmer Biomet by 1,452.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider's stock valued at $37,000 after purchasing an additional 305 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the sale, the senior vice president directly owned 6,833 shares of the company's stock, valued at $711,656.95. This trade represents a 18.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a report on Friday, August 8th. BTIG Research increased their price target on shares of Zimmer Biomet from $118.00 to $122.00 and gave the company a "buy" rating in a report on Monday. Roth Capital reiterated a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Raymond James Financial increased 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, Rothschild & Co Redburn started coverage on shares of Zimmer Biomet in a research note on Thursday, September 18th. They issued a "buy" rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $113.16.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $95.13 on Tuesday. The stock has a market cap of $18.85 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 2.18 and a beta of 0.67. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $114.72. The company's 50-day moving average price is $101.36 and its 200 day moving average price is $98.03. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The company had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same period last year, the company earned $2.01 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Zimmer Biomet's dividend payout ratio (DPR) is currently 23.36%.

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.

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