Kentucky Retirement Systems Sells 1,315 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kentucky Retirement Systems decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,188 shares of the medical equipment provider’s stock after selling 1,315 shares during the period. Kentucky Retirement Systems’ holdings in Zimmer Biomet were worth $1,532,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ZBH. Price T Rowe Associates Inc. MD lifted its stake in Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares during the period. American Century Companies Inc. raised its position in shares of Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after acquiring an additional 722,041 shares during the period. Boston Partners boosted its stake in Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after acquiring an additional 691,191 shares during the last quarter. Magnetar Financial LLC grew its holdings in Zimmer Biomet by 58.7% during the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after purchasing an additional 484,816 shares during the period. Finally, Van ECK Associates Corp increased its stake in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after purchasing an additional 411,163 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Evercore ISI dropped their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. BTIG Research reduced their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. reduced their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $113.02 on Tuesday. The stock has a market cap of $22.50 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.07 and a beta of 1.02. The company has a fifty day moving average price of $106.45 and a two-hundred day moving average price of $109.94. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.74. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

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.