M&G PLC Buys 16,389 Shares of Zimmer Biomet Holdings, Inc. $ZBH

M&G PLC raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 18.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,970 shares of the medical equipment provider’s stock after acquiring an additional 16,389 shares during the quarter. M&G PLC owned approximately 0.05% of Zimmer Biomet worth $9,734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZBH. Accent Capital Management LLC bought a new position in shares of Zimmer Biomet in the 1st quarter worth about $35,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Zimmer Biomet by 1,452.4% during the first 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 during the last quarter. Hilltop National Bank purchased a new stake in shares of Zimmer Biomet in the 2nd quarter worth approximately $42,000. True Wealth Design LLC increased its position in Zimmer Biomet by 875.0% during the 2nd quarter. True Wealth Design LLC now owns 468 shares of the medical equipment provider’s stock valued at $43,000 after buying an additional 420 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in Zimmer Biomet during the first quarter valued at $48,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several recent analyst reports. Raymond James Financial lifted their price target on Zimmer Biomet from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Rothschild Redb upgraded shares of Zimmer Biomet to a “strong-buy” rating in a research note on Thursday, September 18th. Royal Bank Of Canada reduced their price target on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zimmer Biomet in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group reduced their target price on Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and a consensus target price of $109.00.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $90.03 on Thursday. The firm’s 50 day moving average price is $99.17 and its 200-day moving average price is $97.24. 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 stock has a market capitalization of $17.84 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. Zimmer Biomet Holdings, Inc. has a twelve month low of $85.33 and a twelve month high of $114.72.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.02. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the firm earned $1.74 earnings per share. The company’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. Equities research 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 was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.96 annualized dividend and a yield of 1.1%. Zimmer Biomet’s payout ratio is 23.76%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the completion of the sale, the senior vice president owned 6,833 shares in the company, valued at $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

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.