State of Alaska Department of Revenue Sells 8,930 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

State of Alaska Department of Revenue lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,076 shares of the medical equipment provider’s stock after selling 8,930 shares during the quarter. State of Alaska Department of Revenue’s holdings in Zimmer Biomet were worth $6,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of Zimmer Biomet by 11,244.9% in the 4th quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock worth $8,146,000 after buying an additional 66,345 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Zimmer Biomet by 37.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock worth $18,981,000 after purchasing an additional 42,539 shares during the last quarter. TD Asset Management Inc increased its position in shares of Zimmer Biomet by 10.1% during the fourth quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after purchasing an additional 15,552 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of Zimmer Biomet by 499.0% during the 4th quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock valued at $16,397,000 after purchasing an additional 112,237 shares during the last quarter. Finally, Premier Path Wealth Partners LLC acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth $1,093,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ZBH. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Tuesday, May 21st. Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $140.00 to $115.00 in a research report on Monday. Barclays dropped their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Evercore ISI decreased their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and an average price target of $131.76.

Zimmer Biomet Stock Performance

ZBH opened at $106.57 on Thursday. The firm has a fifty day moving average price of $114.69 and a 200 day moving average price of $121.05. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $144.13. The stock has a market cap of $21.92 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.91 and a beta of 1.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

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.