Teachers Retirement System of The State of Kentucky Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,623 shares of the medical equipment provider’s stock after selling 481 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Zimmer Biomet were worth $1,805,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ZBH. The Manufacturers Life Insurance Company increased its holdings in Zimmer Biomet by 18.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 299,155 shares of the medical equipment provider’s stock worth $36,407,000 after buying an additional 47,047 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Zimmer Biomet by 7.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 18,024 shares of the medical equipment provider’s stock worth $2,194,000 after purchasing an additional 1,259 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in Zimmer Biomet by 3.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 82,959 shares of the medical equipment provider’s stock valued at $10,096,000 after purchasing an additional 2,915 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Zimmer Biomet by 210.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,577 shares of the medical equipment provider’s stock valued at $3,234,000 after purchasing an additional 18,019 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Zimmer Biomet by 12.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 22,845 shares of the medical equipment provider’s stock valued at $2,780,000 after buying an additional 2,495 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $104.68 on Friday. The company has a fifty day simple moving average of $109.19 and a 200-day simple moving average of $114.16. The firm has a market capitalization of $21.54 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.94 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. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. Zimmer Biomet’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 EPS. On average, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is currently 20.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial restated a “hold” rating and issued a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research note on Friday, September 13th. JPMorgan Chase & Co. cut their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup dropped their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, TD Cowen decreased their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.05.

Zimmer Biomet Company 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.