Public Employees Retirement Association of Colorado Sells 8,709 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Public Employees Retirement Association of Colorado reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 30.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,108 shares of the medical equipment provider’s stock after selling 8,709 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Zimmer Biomet were worth $2,182,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Zimmer Biomet by 12.9% during 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 acquiring an additional 1,215,935 shares during the period. American Century Companies Inc. increased its holdings in shares of Zimmer Biomet by 12.6% during the 2nd 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 during the period. Victory Capital Management Inc. raised its position in shares of Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after buying an additional 211,637 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Zimmer Biomet by 5.3% in the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after buying an additional 167,038 shares during the period. Finally, Boston Partners grew its position in Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 1.1 %

Shares of NYSE:ZBH opened at $107.57 on Tuesday. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $133.90. The firm has a market cap of $22.13 billion, a P/E ratio of 23.28, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $109.86 and its two-hundred day moving average price is $115.25.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is 20.78%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ZBH shares. Canaccord Genuity Group cut their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Evercore ISI reaffirmed an “in-line” rating and issued a $113.00 target price on shares of Zimmer Biomet in a research report on Thursday, September 5th. UBS Group decreased their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley dropped their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $125.17.

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.