Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stock Position Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,458 shares of the medical equipment provider’s stock after selling 10,738 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Zimmer Biomet worth $19,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC bought a new stake in Zimmer Biomet during the first quarter valued at $31,000. Bangor Savings Bank bought a new stake in shares of Zimmer Biomet during the 3rd quarter valued at about $31,000. Family Firm Inc. acquired a new stake in Zimmer Biomet during the second quarter worth about $33,000. J.Safra Asset Management Corp lifted its holdings in Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Zimmer Biomet in the second quarter valued at approximately $43,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $107.27 on Friday. The company has a market capitalization of $21.85 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.02 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The company has a current ratio of 1.36, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $106.96 and its 200-day simple moving average is $110.89.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.01). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is 18.25%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup cut their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. BTIG Research cut their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company lifted their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Oppenheimer decreased their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $123.84.

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.