Trust Co. of Toledo NA OH Has $1.72 Million Stock Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Trust Co. of Toledo NA OH boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 164.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,433 shares of the medical equipment provider’s stock after purchasing an additional 10,833 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Zimmer Biomet were worth $1,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZBH. Resona Asset Management Co. Ltd. increased its position in shares of Zimmer Biomet by 5.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 67,915 shares of the medical equipment provider’s stock worth $6,197,000 after purchasing an additional 3,634 shares during the period. QSM Asset Management Ltd raised its position in shares of Zimmer Biomet by 36.1% in the 2nd quarter. QSM Asset Management Ltd now owns 111,500 shares of the medical equipment provider’s stock valued at $10,174,000 after buying an additional 29,600 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Zimmer Biomet by 34.4% during the 2nd quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock worth $2,446,000 after acquiring an additional 6,867 shares during the period. Magellan Asset Management Ltd boosted its position in shares of Zimmer Biomet by 16.8% during the 2nd quarter. Magellan Asset Management Ltd now owns 505,901 shares of the medical equipment provider’s stock worth $46,143,000 after acquiring an additional 72,613 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Zimmer Biomet by 89.8% in the second quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider’s stock valued at $4,036,000 after acquiring an additional 20,945 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their price target on Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating for the company in a report on Monday, November 10th. Stifel Nicolaus set a $110.00 price target on shares of Zimmer Biomet in a research note on Wednesday, November 5th. Evercore ISI lowered their price objective on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. BTIG Research cut their target price on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Rothschild Redb upgraded shares of Zimmer Biomet to a “strong-buy” rating in a report on Thursday, September 18th. 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 given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $107.50.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $90.23 on Friday. The firm has a market cap of $17.88 billion, a P/E ratio of 22.33, a P/E/G ratio of 2.37 and a beta of 0.61. The stock’s 50 day moving average is $94.30 and its 200 day moving average is $96.58. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.39. Zimmer Biomet Holdings, Inc. has a one year low of $85.33 and a one year high of $114.44.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the business earned $1.74 EPS. The company’s revenue was up 9.6% 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 expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, December 30th. Zimmer Biomet’s payout ratio is presently 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.