State of New Jersey Common Pension Fund D Sells 44,785 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

State of New Jersey Common Pension Fund D cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 40.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,178 shares of the medical equipment provider’s stock after selling 44,785 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Zimmer Biomet were worth $7,291,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Zimmer Biomet by 12.9% during the 1st 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 acquiring an additional 1,215,935 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Zimmer Biomet by 10.5% during the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after acquiring an additional 484,151 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after acquiring an additional 211,637 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Zimmer Biomet by 5.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after acquiring an additional 167,038 shares during the period. Finally, Boston Partners lifted its holdings in shares of Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after acquiring an additional 691,191 shares during the period. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $106.26 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The firm’s 50 day moving average price is $109.90 and its two-hundred day moving average price is $116.03. The firm has a market cap of $21.64 billion, a P/E ratio of 23.00, a PEG ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 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. Stockholders of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Analysts Set New Price Targets

ZBH has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, August 8th. Royal Bank of Canada reduced their target price on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. TD Cowen reduced their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Finally, Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and a consensus target price of $125.44.

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.