Wealth Enhancement Advisory Services LLC Purchases 30,007 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Zimmer Biomet by 173.8%, acquiring 30,007 shares to own a total of 47,268 shares worth approximately $4.43 million.
• Zimmer Biomet reported earnings per share (EPS) of $2.07 for the latest quarter, exceeding analysts' expectations and showing a 7.0% increase in revenue from the prior year.
• The company declared a quarterly dividend of $0.24 per share, with an annualized yield of 1.0%, to be paid on October 31st.

Wealth Enhancement Advisory Services LLC grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 173.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,268 shares of the medical equipment provider's stock after acquiring an additional 30,007 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Zimmer Biomet were worth $4,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swedbank AB lifted its stake in shares of Zimmer Biomet by 77.7% in the second quarter. Swedbank AB now owns 36,892 shares of the medical equipment provider's stock valued at $3,365,000 after buying an additional 16,128 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Zimmer Biomet in the 2nd quarter worth about $232,000. Gilman Hill Asset Management LLC lifted its position in Zimmer Biomet by 4.3% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 30,378 shares of the medical equipment provider's stock valued at $2,771,000 after acquiring an additional 1,258 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in Zimmer Biomet by 30.1% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,098 shares of the medical equipment provider's stock valued at $100,000 after purchasing an additional 254 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Zimmer Biomet during the 2nd quarter worth approximately $307,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

ZBH opened at $96.94 on Friday. The firm has a 50-day moving average price of $100.48 and a 200-day moving average price of $99.23. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $114.72. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.28 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.09. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the business earned $2.01 EPS. Zimmer Biomet's revenue 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. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current 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 issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Zimmer Biomet's dividend payout ratio is 23.36%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $104.15, for a total transaction of $156,225.00. Following the completion of the transaction, the senior vice president owned 6,833 shares of the company's stock, valued at $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Redburn Partners set a $130.00 target price on Zimmer Biomet in a research report on Thursday, September 18th. UBS Group increased their target price 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. Royal Bank Of Canada increased their price objective on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Finally, Stifel Nicolaus increased their price target on Zimmer Biomet from $115.00 to $118.00 and gave the company a "buy" rating in a research report on Friday, September 19th. One investment 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 given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $113.16.

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.

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