Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Position Boosted by Arizona State Retirement System

Arizona State Retirement System raised its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,152 shares of the medical equipment provider’s stock after acquiring an additional 211 shares during the quarter. Arizona State Retirement System’s holdings in Zimmer Biomet were worth $6,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Roman Butler Fullerton & Co. purchased a new position in Zimmer Biomet during the 4th quarter valued at about $473,000. Geode Capital Management LLC grew its stake in Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after acquiring an additional 125,852 shares in the last quarter. M&T Bank Corp grew its stake in Zimmer Biomet by 48.4% during the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock valued at $2,884,000 after acquiring an additional 8,709 shares in the last quarter. KLCM Advisors Inc. purchased a new position in Zimmer Biomet during the 4th quarter valued at about $7,825,000. Finally, Peddock Capital Advisors LLC purchased a new position in Zimmer Biomet during the 4th quarter valued at about $654,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 2.4 %

Shares of ZBH stock opened at $107.87 on Friday. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $133.90. The firm has a market cap of $21.47 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The stock has a 50 day moving average of $105.55 and a 200-day moving average of $107.22. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter last year, the firm earned $2.20 earnings per share. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Zimmer Biomet’s payout ratio is 21.57%.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada lowered their price target on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Truist Financial reissued a “hold” rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Stifel Nicolaus boosted their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Raymond James lowered their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $124.15.

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.