Wedge Capital Management L L P NC Sells 17,263 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Wedge Capital Management L L P NC decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 21.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,914 shares of the medical equipment provider’s stock after selling 17,263 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Zimmer Biomet were worth $6,296,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ZBH. Benson Investment Management Company Inc. purchased a new stake in Zimmer Biomet in the third quarter worth $4,967,000. Board of the Pension Protection Fund bought a new position in shares of Zimmer Biomet in the third quarter worth about $197,000. Czech National Bank increased its stake in Zimmer Biomet by 4.0% in the 3rd quarter. Czech National Bank now owns 50,313 shares of the medical equipment provider’s stock worth $4,956,000 after buying an additional 1,952 shares during the period. Country Club Bank lifted its holdings in Zimmer Biomet by 24.7% during the 3rd quarter. Country Club Bank now owns 59,943 shares of the medical equipment provider’s stock valued at $5,891,000 after buying an additional 11,888 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its position in Zimmer Biomet by 12.3% in the 3rd quarter. ST Germain D J Co. Inc. now owns 127,931 shares of the medical equipment provider’s stock valued at $12,601,000 after buying an additional 14,058 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the subject of several research analyst reports. Redburn Partners set a $130.00 price target on shares of Zimmer Biomet in a research note on Thursday, September 18th. Royal Bank Of Canada reduced their price objective on Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Stifel Nicolaus set a $110.00 target price on Zimmer Biomet in a report on Wednesday, November 5th. Barclays decreased their price objective on Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating for the company in a report on Wednesday, November 5th. Finally, BTIG Research dropped their target price on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $107.50.

Zimmer Biomet Price Performance

NYSE ZBH opened at $89.25 on Monday. Zimmer Biomet Holdings, Inc. has a 12-month low of $85.33 and a 12-month high of $114.44. The firm’s fifty day simple moving average is $94.96 and its two-hundred day simple moving average is $96.71. The company has a current ratio of 2.43, a quick ratio of 1.39 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $17.69 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.34 and a beta of 0.61.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.85% and a net margin of 10.05%.The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the firm earned $1.74 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. Zimmer Biomet’s dividend payout ratio is 23.76%.

Zimmer Biomet Company Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.