California State Teachers Retirement System Cuts Stock Holdings in Zimmer Biomet Holdings, Inc. $ZBH

California State Teachers Retirement System decreased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,360 shares of the medical equipment provider’s stock after selling 6,533 shares during the quarter. California State Teachers Retirement System’s holdings in Zimmer Biomet were worth $30,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Zimmer Biomet in the 4th quarter worth about $204,000. Sivia Capital Partners LLC purchased a new stake in Zimmer Biomet in the 2nd quarter valued at about $232,000. United Bank lifted its position in shares of Zimmer Biomet by 10.7% during the 2nd quarter. United Bank now owns 11,896 shares of the medical equipment provider’s stock worth $1,085,000 after buying an additional 1,153 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Zimmer Biomet by 129.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,132 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 1,202 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Zimmer Biomet by 93.6% in the 2nd quarter. Cerity Partners LLC now owns 76,785 shares of the medical equipment provider’s stock worth $7,004,000 after buying an additional 37,116 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 0.8%

Zimmer Biomet stock opened at $94.20 on Friday. The firm has a 50 day moving average price of $88.84 and a 200-day moving average price of $89.86. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. Zimmer Biomet Holdings, Inc. has a twelve month low of $79.12 and a twelve month high of $108.29. The company has a market capitalization of $18.22 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.80 and a beta of 0.46.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. Zimmer Biomet’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, June 25th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 25th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 24.94%.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “hold” rating and set a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 price target on Zimmer Biomet in a report on Wednesday, April 29th. Wells Fargo & Company cut their price objective on Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings lowered Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 20th. Finally, BMO Capital Markets assumed coverage on Zimmer Biomet in a research note on Wednesday, July 8th. They set a “market perform” rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $102.00.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the insider directly owned 27,251 shares in the company, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.28% of the stock is owned by corporate insiders.

Zimmer Biomet Company Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.