New York State Common Retirement Fund Sells 2,847 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

New York State Common Retirement Fund reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 244,830 shares of the medical equipment provider’s stock after selling 2,847 shares during the period. New York State Common Retirement Fund owned 0.12% of Zimmer Biomet worth $29,796,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Impact Partnership Wealth LLC bought a new stake in Zimmer Biomet in the 3rd quarter valued at $52,000. DAVENPORT & Co LLC boosted its holdings in Zimmer Biomet by 7.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 6,085 shares of the medical equipment provider’s stock valued at $683,000 after purchasing an additional 428 shares during the period. Oak Thistle LLC bought a new stake in Zimmer Biomet in the 3rd quarter valued at $494,000. Czech National Bank boosted its holdings in Zimmer Biomet by 47.9% in the 3rd quarter. Czech National Bank now owns 36,522 shares of the medical equipment provider’s stock valued at $4,098,000 after purchasing an additional 11,831 shares during the period. Finally, HMS Capital Management LLC lifted its holdings in shares of Zimmer Biomet by 12.2% during the 3rd quarter. HMS Capital Management LLC now owns 8,551 shares of the medical equipment provider’s stock worth $960,000 after acquiring an additional 931 shares during the period. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Down 1.2 %

Shares of NYSE ZBH opened at $119.75 on Friday. The firm’s 50-day moving average is $126.09 and its 200-day moving average is $119.46. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The firm has a market capitalization of $24.60 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.23 and a beta of 1.01. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm earned $1.88 EPS. Zimmer Biomet’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s payout ratio is currently 19.63%.

Insider Buying and Selling at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction on 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 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 is accessible through the SEC website. Insiders own 0.95% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Truist Financial raised their price objective on shares of Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Raymond James raised their price objective on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 9th. Finally, TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $139.39.

About Zimmer Biomet

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.