Kentucky Retirement Systems Trims Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kentucky Retirement Systems reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,503 shares of the medical equipment provider’s stock after selling 368 shares during the period. Kentucky Retirement Systems’ holdings in Zimmer Biomet were worth $1,683,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. OLD Point Trust & Financial Services N A acquired a new position in shares of Zimmer Biomet during the fourth quarter worth about $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $30,000. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet in the 1st quarter valued at approximately $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet in the second quarter valued at approximately $33,000. Finally, J.Safra Asset Management Corp grew its holdings in Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 235 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZBH. Citigroup cut their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Barclays reduced their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $140.00 to $115.00 in a report on Monday, July 1st. UBS Group cut their price target on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley lowered their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $106.42 on Friday. The stock has a fifty day moving average price of $109.83 and a 200 day moving average price of $115.52. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $133.90. The firm has a market capitalization of $21.67 billion, a P/E ratio of 23.03, a PEG ratio of 1.96 and a beta of 1.02. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $1.82 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company 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 dividend of $0.24 per share. 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 payout ratio is 20.78%.

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.