Magellan Asset Management Ltd Purchases 94,224 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Magellan Asset Management Ltd raised its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 600,125 shares of the medical equipment provider’s stock after acquiring an additional 94,224 shares during the period. Magellan Asset Management Ltd’s holdings in Zimmer Biomet were worth $59,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ZBH. Legacy Wealth Asset Management LLC boosted its stake in shares of Zimmer Biomet by 2.3% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 4,670 shares of the medical equipment provider’s stock valued at $460,000 after purchasing an additional 106 shares in the last quarter. Global Retirement Partners LLC boosted its position in Zimmer Biomet by 7.0% during the third quarter. Global Retirement Partners LLC now owns 1,686 shares of the medical equipment provider’s stock valued at $166,000 after buying an additional 111 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Zimmer Biomet by 66.7% during the third quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in shares of Zimmer Biomet by 0.9% in the third quarter. Generali Asset Management SPA SGR now owns 14,232 shares of the medical equipment provider’s stock worth $1,402,000 after buying an additional 122 shares during the period. Finally, Brookstone Capital Management lifted its stake in shares of Zimmer Biomet by 1.3% in the 3rd quarter. Brookstone Capital Management now owns 9,350 shares of the medical equipment provider’s stock valued at $921,000 after acquiring an additional 123 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZBH has been the topic of several recent research reports. BTIG Research restated a “buy” rating and set a $112.00 price target on shares of Zimmer Biomet in a research report on Tuesday, February 10th. William Blair initiated coverage on shares of Zimmer Biomet in a report on Friday. They issued a “market perform” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $100.00 target price (down from $117.00) on shares of Zimmer Biomet in a research note on Tuesday, December 16th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $100.00 price target (down from $115.00) on shares of Zimmer Biomet in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group cut shares of Zimmer Biomet from a “neutral” rating to a “sell” rating and set a $93.00 price objective on the stock. in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $106.20.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $99.92 on Wednesday. The firm has a market capitalization of $19.55 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.03 and a beta of 0.62. The stock has a fifty day moving average of $90.96 and a 200 day moving average of $95.90. Zimmer Biomet Holdings, Inc. has a 52 week low of $84.59 and a 52 week high of $114.44. The company has a quick ratio of 1.10, a current ratio of 1.98 and a debt-to-equity ratio of 0.55.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Tuesday, February 10th. The medical equipment provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.38 by $0.04. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. Zimmer Biomet had a net margin of 8.56% and a return on equity of 12.93%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.300-8.450 EPS. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Zimmer Biomet’s payout ratio is presently 27.12%.

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.