5,727 Zimmer Biomet Holdings, Inc. $ZBH Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,122 shares of the medical equipment provider’s stock after buying an additional 5,727 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Zimmer Biomet were worth $9,871,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. purchased a new stake in Zimmer Biomet in the third quarter worth $209,000. Equity Investment Corp lifted its stake in shares of Zimmer Biomet by 5.7% during the 3rd quarter. Equity Investment Corp now owns 1,776,758 shares of the medical equipment provider’s stock valued at $157,829,000 after buying an additional 95,398 shares in the last quarter. M&G PLC grew its stake in Zimmer Biomet by 0.3% in the 3rd quarter. M&G PLC now owns 158,365 shares of the medical equipment provider’s stock valued at $14,094,000 after buying an additional 402 shares in the last quarter. AlphaCore Capital LLC raised its holdings in Zimmer Biomet by 25.2% during the 3rd quarter. AlphaCore Capital LLC now owns 21,970 shares of the medical equipment provider’s stock valued at $1,952,000 after acquiring an additional 4,419 shares during the period. Finally, Fulcrum Asset Management LLP raised its holdings in Zimmer Biomet by 8,351.6% during the 3rd quarter. Fulcrum Asset Management LLP now owns 10,480 shares of the medical equipment provider’s stock valued at $957,000 after acquiring an additional 10,356 shares during the period. Institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the topic of several recent research reports. BMO Capital Markets restated a “market perform” rating on shares of Zimmer Biomet in a research report on Monday, September 28th. Stifel Nicolaus set a $125.00 price target on Zimmer Biomet in a research report on Wednesday, November 4th. Citigroup increased their price objective on Zimmer Biomet from $99.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. UBS Group increased their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, Weiss Ratings upgraded Zimmer Biomet from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 14th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average target price of $112.74.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $104.56 on Friday. The firm’s 50 day simple moving average is $95.68 and its 200 day simple moving average is $92.48. The company has a current ratio of 1.46, a quick ratio of 0.79 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $19.79 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 2.52 and a beta of 0.50. Zimmer Biomet Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $112.54.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, November 4th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. Zimmer Biomet had a net margin of 8.95% and a return on equity of 13.02%. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the company posted $1.90 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.56 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. Zimmer Biomet’s dividend payout ratio is presently 24.30%.

Insiders Place Their Bets

In related news, insider Kevin R. Thornal sold 5,691 shares of Zimmer Biomet stock in a transaction on Friday, September 11th. The stock was sold at an average price of $92.95, for a total transaction of $528,978.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chad F. Phipps sold 3,000 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $98.35, for a total value of $295,050.00. Following the transaction, the insider owned 65,231 shares of the company’s stock, valued at approximately $6,415,468.85. The trade was a 4.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.28% of the company’s stock.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc. develops and manufactures medical devices and technologies used in musculoskeletal care. Its products support orthopedic procedures involving the hip, knee, shoulder, and extremities, as well as trauma care, sports medicine, and related surgical applications. The company also offers surgical technologies, including robotic and digital solutions designed to assist clinicians with planning and performing procedures. Its products and services are used by hospitals, surgeons, and other healthcare providers.