Zimmer Biomet Holdings, Inc. $ZBH Shares Purchased by Covea Finance

Key Points

• Covea Finance increased its holdings in Zimmer Biomet by 46.9%, owning a total of 42,600 shares worth about $3.89 million at the end of the last quarter.
• Zimmer Biomet reported $2.07 EPS for the quarter, surpassing analysts' expectations of $1.98, along with a 7.0% year-over-year revenue growth to $2.08 billion.
• The company announced a quarterly dividend of $0.24 per share, with the ex-dividend date set for September 30th, reflecting a 0.9% annual yield.

Covea Finance boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 46.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,600 shares of the medical equipment provider's stock after purchasing an additional 13,600 shares during the quarter. Covea Finance's holdings in Zimmer Biomet were worth $3,886,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. acquired a new position in shares of Zimmer Biomet during the first quarter valued at $29,000. Menard Financial Group LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at $30,000. Washington Trust Advisors Inc. acquired a new position in shares of Zimmer Biomet during the first quarter valued at $30,000. Columbia River Financial Group LLC acquired a new position in shares of Zimmer Biomet during the first quarter valued at $30,000. Finally, Accent Capital Management LLC acquired a new position in shares of Zimmer Biomet during the first quarter valued at $35,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $101.90 on Tuesday. The business has a fifty day simple moving average of $100.22 and a 200 day simple moving average of $99.31. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.30 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year 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 analysts' consensus estimates of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.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 prior year, the company posted $2.01 earnings per share. Zimmer Biomet's revenue was up 7.0% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. Zimmer Biomet's dividend payout ratio (DPR) is 23.36%.

Insider Buying and Selling at Zimmer Biomet

In other 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 transaction, the senior vice president owned 6,833 shares in the company, valued at $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

ZBH has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on shares of Zimmer Biomet from $115.00 to $118.00 and gave the company a "buy" rating in a report on Friday. Evercore ISI reduced 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 report on Tuesday, July 8th. Roth Capital reaffirmed a "buy" rating on shares of Zimmer Biomet in a report on Thursday, August 7th. UBS Group upped their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a report on Friday, August 8th. Finally, Rothschild Redb raised shares of Zimmer Biomet to a "strong-buy" rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $113.16.

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.

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