Teachers Retirement System of The State of Kentucky cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,758 shares of the medical equipment provider’s stock after selling 642 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Zimmer Biomet were worth $1,888,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Zimmer Biomet by 19.0% during the first quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock valued at $2,954,843,000 after acquiring an additional 3,695,510 shares in the last quarter. BlackRock Inc. grew its stake in shares of Zimmer Biomet by 0.9% during the fourth quarter. BlackRock Inc. now owns 21,761,864 shares of the medical equipment provider’s stock valued at $2,764,628,000 after acquiring an additional 196,353 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zimmer Biomet by 11.5% during the first quarter. JPMorgan Chase & Co. now owns 12,772,584 shares of the medical equipment provider’s stock valued at $1,633,612,000 after acquiring an additional 1,321,955 shares in the last quarter. State Street Corp grew its stake in shares of Zimmer Biomet by 3.3% during the fourth quarter. State Street Corp now owns 9,029,019 shares of the medical equipment provider’s stock valued at $1,149,182,000 after acquiring an additional 290,402 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 4.9% during the first quarter. American Century Companies Inc. now owns 5,837,756 shares of the medical equipment provider’s stock valued at $746,649,000 after acquiring an additional 272,469 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Zimmer Biomet
In other Zimmer Biomet news, insider Zuilen Wilfred Van sold 531 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $105.22, for a total value of $55,871.82. Following the sale, the insider now owns 2,240 shares in the company, valued at $235,692.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by company insiders.
Zimmer Biomet Price Performance
Zimmer Biomet (NYSE:ZBH – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.63 by $0.19. Zimmer Biomet had a net margin of 3.10% and a return on equity of 12.20%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $1.90 earnings per share. Zimmer Biomet’s revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 6.8 earnings per share for the current year.
Zimmer Biomet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is currently 88.07%.
Analyst Ratings Changes
Several analysts have recently weighed in on ZBH shares. Truist Financial lowered their target price on Zimmer Biomet to $115.00 in a research note on Friday, July 22nd. Morgan Stanley increased their price target on shares of Zimmer Biomet from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 3rd. Needham & Company LLC cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. Citigroup increased their price target on shares of Zimmer Biomet from $114.00 to $119.00 in a research report on Wednesday, August 3rd. Finally, Stifel Nicolaus reduced their price target on shares of Zimmer Biomet from $140.00 to $120.00 in a research report on Monday, July 18th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $133.50.
Zimmer Biomet Company Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.
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