Maryland State Retirement & Pension System Reduces Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Maryland State Retirement & Pension System reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,577 shares of the medical equipment provider’s stock after selling 1,104 shares during the period. Maryland State Retirement & Pension System’s holdings in Zimmer Biomet were worth $1,117,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet during the 4th quarter valued at about $25,000. Dunhill Financial LLC increased its holdings in Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Brooklyn Investment Group purchased a new position in Zimmer Biomet during the 3rd quarter valued at about $35,000. Kentucky Trust Co purchased a new position in Zimmer Biomet during the 4th quarter valued at about $39,000. Finally, OFI Invest Asset Management purchased a new position in Zimmer Biomet during the 4th quarter valued at about $40,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ZBH. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Truist Financial reiterated a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Barclays lowered their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a report on Monday, February 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Trading Down 0.9 %

Shares of ZBH stock opened at $110.79 on Friday. The stock has a market cap of $22.05 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. 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 Holdings, Inc. has a fifty-two week low of $97.69 and a fifty-two week high of $133.90. The firm’s 50 day moving average price is $106.74 and its two-hundred day moving average price is $106.86.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the previous year, the business earned $2.20 EPS. On average, analysts anticipate 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. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s payout ratio is currently 21.57%.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.95% of the company’s stock.

About Zimmer Biomet

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.