Primecap Management Co. CA Buys 27,860 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Primecap Management Co. CA boosted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,710,830 shares of the medical equipment provider’s stock after purchasing an additional 27,860 shares during the period. Primecap Management Co. CA owned about 2.38% of Zimmer Biomet worth $429,675,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Accent Capital Management LLC bought a new position in Zimmer Biomet during the 1st quarter worth $35,000. Hilltop National Bank acquired a new position in shares of Zimmer Biomet in the 2nd quarter valued at approximately $42,000. True Wealth Design LLC lifted its holdings in shares of Zimmer Biomet by 875.0% during the 2nd quarter. True Wealth Design LLC now owns 468 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 420 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth approximately $48,000. Finally, Brooklyn Investment Group boosted its holdings in shares of Zimmer Biomet by 45.9% in the 1st quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider’s stock valued at $52,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Rothschild & Co Redburn started coverage on Zimmer Biomet in a research note on Thursday, September 18th. They issued a “buy” rating and a $130.00 price objective on the stock. Evercore ISI cut their target price on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Stifel Nicolaus set a $110.00 price target on Zimmer Biomet in a research note on Wednesday, November 5th. Royal Bank Of Canada cut their price objective on Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Finally, Rothschild Redb raised Zimmer Biomet to a “strong-buy” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $109.00.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $89.10 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The company’s 50 day simple moving average is $97.95 and its two-hundred day simple moving average is $96.84. The stock has a market capitalization of $17.66 billion, a PE ratio of 21.68, a P/E/G ratio of 2.29 and a beta of 0.67. Zimmer Biomet Holdings, Inc. has a 1 year low of $85.33 and a 1 year high of $114.44.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company earned $1.74 EPS. The company’s 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 predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were paid a $0.24 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. Zimmer Biomet’s dividend payout ratio is presently 23.76%.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were 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 directly owned 6,833 shares of the company’s stock, valued at $711,656.95. The trade was a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.39% of the company’s stock.

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.