California Public Employees Retirement System Has $47.45 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

California Public Employees Retirement System cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 389,918 shares of the medical equipment provider’s stock after selling 8,787 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Zimmer Biomet worth $47,453,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Zimmer Biomet by 21.2% during the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock valued at $545,809,000 after purchasing an additional 852,186 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Zimmer Biomet by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,080,463 shares of the medical equipment provider’s stock worth $345,690,000 after buying an additional 144,147 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Zimmer Biomet by 16.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock valued at $335,895,000 after acquiring an additional 386,019 shares during the period. Boston Partners boosted its stake in Zimmer Biomet by 29.2% during the third quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock worth $302,366,000 after acquiring an additional 608,959 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Zimmer Biomet by 4.5% in the third quarter. Northern Trust Corp now owns 2,653,334 shares of the medical equipment provider’s stock worth $297,757,000 after purchasing an additional 113,139 shares during the period. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $119.35 on Friday. The company has a market capitalization of $24.52 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $149.25. The company’s 50-day moving average is $125.98 and its 200 day moving average is $119.52.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the company earned $1.88 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 19.63%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the sale, the vice president now owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ZBH shares. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Canaccord Genuity Group reiterated a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a report on Friday, February 23rd. Evercore ISI boosted their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Raymond James increased their target price on Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Finally, Citigroup boosted their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average price target of $139.39.

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.