State of New Jersey Common Pension Fund D Has $7.29 Million Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

State of New Jersey Common Pension Fund D trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 40.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,178 shares of the medical equipment provider’s stock after selling 44,785 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Zimmer Biomet were worth $7,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A acquired a new position in Zimmer Biomet during the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in Zimmer Biomet during the fourth quarter worth $30,000. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet in the first quarter valued at $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet in the second quarter valued at $33,000. Finally, J.Safra Asset Management Corp increased its holdings in shares of 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 valued at $35,000 after purchasing an additional 235 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 1.1 %

Shares of NYSE ZBH opened at $106.26 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The company has a market cap of $21.64 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.92 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $133.90. The stock has a 50-day moving average price of $109.90 and a two-hundred day moving average price of $116.03.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Wall Street Analyst Weigh In

ZBH has been the topic of several research reports. Truist Financial reiterated a “hold” rating and issued a $112.00 price objective (down from $117.00) on shares of Zimmer Biomet in a report on Friday. UBS Group decreased their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Wolfe Research started coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Evercore ISI reissued an “in-line” rating and issued a $113.00 target price on shares of Zimmer Biomet in a research report on Thursday, September 5th. Finally, TD Cowen reduced their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.44.

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.