Retirement Systems of Alabama Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Retirement Systems of Alabama lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,058 shares of the medical equipment provider’s stock after selling 1,191 shares during the quarter. Retirement Systems of Alabama’s holdings in Zimmer Biomet were worth $5,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Schechter Investment Advisors LLC lifted its stake in shares of Zimmer Biomet by 21.6% during the 3rd quarter. Schechter Investment Advisors LLC now owns 4,241 shares of the medical equipment provider’s stock valued at $476,000 after buying an additional 752 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Zimmer Biomet by 5.9% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 20,566 shares of the medical equipment provider’s stock valued at $2,312,000 after buying an additional 1,144 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Zimmer Biomet by 11,244.9% during the 4th quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock valued at $8,146,000 after buying an additional 66,345 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Zimmer Biomet by 3.0% during the 3rd quarter. Amalgamated Bank now owns 56,166 shares of the medical equipment provider’s stock valued at $6,303,000 after buying an additional 1,631 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Zimmer Biomet by 37.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock valued at $18,981,000 after buying an additional 42,539 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Monday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday. StockNews.com downgraded shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Evercore ISI lifted their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Truist Financial reduced their price target on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average price target of $135.40.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH opened at $121.66 on Monday. The company has a market capitalization of $25.03 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.23 and a beta of 1.03. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $147.50. The firm’s 50-day moving average is $125.30 and its 200 day moving average is $120.21. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.79%. Zimmer Biomet’s payout ratio is 20.78%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were 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 directly owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by insiders.

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.