Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Bought by Dimensional Fund Advisors LP

VaselineSeptember 20, 2024

0 4 minutes read

Dimensional Fund Advisors LP raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,810,770 shares of the medical equipment provider’s stock after purchasing an additional 154,447 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Zimmer Biomet were worth $196,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. American Century Companies Inc. boosted its holdings in Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Zimmer Biomet by 10.5% during the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after buying an additional 484,151 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Zimmer Biomet by 6.7% in the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after purchasing an additional 211,637 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Zimmer Biomet by 5.3% during the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after purchasing an additional 167,038 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s shares.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $106.32 on Friday. The firm has a market cap of $21.65 billion, a P/E ratio of 23.01, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $133.90. The company’s fifty day moving average is $109.88 and its two hundred day moving average is $115.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63, and a current ratio of 1.29.

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Zimmer Biomet (NYSE:ZBH – Get Your Free Report ) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $1.82 EPS. The company’s revenue rose 3.9% year-over-year. Analysts estimate that Zimmer Biomet Holdings, Inc. will record 8.02 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30. This represents an annualized dividend of $0.96 and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Analyst upgrades and downgrades

A number of brokerages have recently commented on ZBH. JPMorgan Chase & Co. reduced their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday. Goldman Sachs Group began coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 target price on the stock. Robert W. Baird cut their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Morgan Stanley reduced their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Finally, Barclays decreased their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $125.17, according to MarketBeat.

See the latest stock report on ZBH

Zimmer Biomet Profile

(Free report)

Zimmer Biomet Holdings, Inc., together with its subsidiaries, operates as a global medical technology company. The company designs, manufactures and markets orthopedic reconstruction products such as knee and hip products; SET products, including sports medicine, biologics, foot and ankle, extremity and trauma products; Craniomaxillofacial and thoracic products comprising products for facial and cranial reconstruction, as well as products that fix and stabilize the thoracic bones to facilitate healing or reconstruction after open heart surgery, trauma or for thoracic deformities.