Assenagon Asset Management S.A. Reduces Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Assenagon Asset Management S.A. decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 74.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,434 shares of the medical equipment provider’s stock after selling 21,258 shares during the period. Assenagon Asset Management S.A.’s holdings in Zimmer Biomet were worth $678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC purchased a new stake in Zimmer Biomet during the 1st quarter worth $269,000. Moody National Bank Trust Division purchased a new stake in Zimmer Biomet during the 2nd quarter worth $951,000. Keybank National Association OH increased its position in shares of Zimmer Biomet by 61.2% in the 1st quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider’s stock worth $1,620,000 after purchasing an additional 5,434 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Zimmer Biomet by 26.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider’s stock worth $35,800,000 after purchasing an additional 66,114 shares during the last quarter. Finally, Czech National Bank increased its position in shares of Zimmer Biomet by 5.8% in the 2nd quarter. Czech National Bank now owns 48,361 shares of the medical equipment provider’s stock worth $4,411,000 after purchasing an additional 2,637 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 1.2%

NYSE ZBH opened at $98.18 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $114.72. The company has a 50-day simple moving average of $100.58 and a 200-day simple moving average of $99.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. The firm has a market capitalization of $19.45 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.26 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.98 by $0.09. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Zimmer Biomet’s payout ratio is presently 23.36%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZBH. Evercore ISI dropped their target price on shares of Zimmer Biomet from $102.00 to $96.00 and set an “in-line” rating for the company in a research report on Tuesday, July 8th. Rothschild & Co Redburn began coverage on shares of Zimmer Biomet in a research report on Thursday, September 18th. They issued a “buy” rating and a $130.00 target price for the company. Rothschild Redb raised shares of Zimmer Biomet to a “strong-buy” rating in a research report on Thursday, September 18th. Raymond James Financial boosted their target price on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Redburn Partners set a $130.00 target price on shares of Zimmer Biomet in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.16.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of the business’s stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.39% of the stock is 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.