California State Teachers Retirement System Reduces Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

California State Teachers Retirement System decreased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 0.9% during the 3rd quarter, Holdings Channel reports. The firm owned 347,217 shares of the medical equipment provider’s stock after selling 3,049 shares during the quarter. California State Teachers Retirement System’s holdings in Zimmer Biomet were worth $36,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Zimmer Biomet by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 23,809,176 shares of the medical equipment provider’s stock worth $2,489,249,000 after buying an additional 235,871 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Zimmer Biomet by 3.3% in the third quarter. BlackRock Inc. now owns 21,494,011 shares of the medical equipment provider’s stock valued at $2,247,199,000 after purchasing an additional 683,526 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Zimmer Biomet by 18.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 10,549,223 shares of the medical equipment provider’s stock valued at $1,102,922,000 after purchasing an additional 1,619,881 shares during the last quarter. Dodge & Cox increased its stake in shares of Zimmer Biomet by 131.9% during the 2nd quarter. Dodge & Cox now owns 5,410,600 shares of the medical equipment provider’s stock worth $568,438,000 after purchasing an additional 3,077,685 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Zimmer Biomet by 12.7% during the 1st quarter. Invesco Ltd. now owns 2,307,356 shares of the medical equipment provider’s stock worth $295,111,000 after purchasing an additional 259,741 shares during the last quarter. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ZBH. Wells Fargo & Company upgraded Zimmer Biomet from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $116.00 to $124.00 in a report on Wednesday, November 23rd. Robert W. Baird lifted their price objective on Zimmer Biomet from $133.00 to $145.00 in a research report on Monday, February 6th. Citigroup raised their price target on shares of Zimmer Biomet from $116.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, December 12th. Loop Capital boosted their price objective on shares of Zimmer Biomet from $125.00 to $140.00 in a research report on Monday, February 6th. Finally, Oppenheimer raised their target price on shares of Zimmer Biomet from $120.00 to $142.00 and gave the stock an “outperform” rating in a research report on Monday, February 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $133.56.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $124.31 on Friday. The business’s fifty day moving average price is $125.21 and its 200 day moving average price is $118.62. Zimmer Biomet Holdings, Inc. has a twelve month low of $100.39 and a twelve month high of $135.05. The company has a current ratio of 1.88, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $26.11 billion, a P/E ratio of 113.01, a PEG ratio of 2.90 and a beta of 1.00.

Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings data on Friday, February 3rd. The medical equipment provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.05. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 EPS. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.04 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Wednesday, March 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, March 28th. Zimmer Biomet’s dividend payout ratio is presently 87.27%.

About Zimmer Biomet

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.