Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stake Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,779 shares of the medical equipment provider’s stock after selling 323 shares during the quarter. Retirement Systems of Alabama’s holdings in Zimmer Biomet were worth $4,842,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Roberts Wealth Advisors LLC grew its stake in Zimmer Biomet by 0.8% during the 1st quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider’s stock worth $2,093,000 after buying an additional 152 shares during the last quarter. Boston Trust Walden Corp bought a new position in Zimmer Biomet during the 1st quarter worth $54,108,000. Premier Path Wealth Partners LLC grew its stake in Zimmer Biomet by 21.0% during the 1st quarter. Premier Path Wealth Partners LLC now owns 12,472 shares of the medical equipment provider’s stock worth $1,412,000 after buying an additional 2,168 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Zimmer Biomet by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,316 shares of the medical equipment provider’s stock worth $2,638,000 after buying an additional 620 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its stake in shares of Zimmer Biomet by 20.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider’s stock worth $295,000 after purchasing an additional 435 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ZBH shares. Raymond James Financial decreased their price target on Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group decreased their price target on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Robert W. Baird decreased their price target on Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Finally, Morgan Stanley decreased their price target on Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $111.53.

Zimmer Biomet Trading Up 0.9%

Shares of NYSE ZBH opened at $92.34 on Wednesday. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The company has a market cap of $18.27 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.12 and a beta of 0.72. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $94.98 and a 200-day simple moving average of $102.57.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business posted $1.94 earnings per share. Zimmer Biomet’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet’s dividend payout ratio is 21.24%.

Insider Activity

In related news, insider Sang Yi sold 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider now directly owns 20,424 shares of the company’s stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

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.