Mirae Asset Global Investments Co. Ltd. Raises Stake in Zimmer Biomet Holdings, Inc. $ZBH

Mirae Asset Global Investments Co. Ltd. raised its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.9% in the second quarter, Holdings Channel reports. The fund owned 26,912 shares of the medical equipment provider’s stock after buying an additional 1,971 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Zimmer Biomet were worth $2,455,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in Zimmer Biomet by 0.5% in the first quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider’s stock worth $2,903,000 after acquiring an additional 118 shares during the last quarter. Curbstone Financial Management Corp boosted its position in shares of Zimmer Biomet by 3.4% during the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider’s stock worth $483,000 after acquiring an additional 140 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Zimmer Biomet by 45.9% during the 1st quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider’s stock worth $52,000 after acquiring an additional 145 shares in the last quarter. Roberts Wealth Advisors LLC boosted its position in shares of Zimmer Biomet by 0.8% during the 1st quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider’s stock worth $2,093,000 after acquiring an additional 152 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in shares of Zimmer Biomet by 0.8% during the 1st quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider’s stock worth $2,265,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the sale, the senior vice president owned 6,833 shares of the company’s stock, valued at approximately $711,656.95. The trade was a 18.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James Financial upped their price objective on Zimmer Biomet from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Roth Capital reaffirmed a “buy” rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. Royal Bank Of Canada increased their target price on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Evercore ISI dropped 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. Finally, UBS Group increased their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a “sell” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $112.89.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $99.12 on Wednesday. The company has a 50-day simple moving average of $101.01 and a 200-day simple moving average of $98.54. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $114.72. 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 stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.27 and a beta of 0.67.

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

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 23.36%.

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.