New York State Common Retirement Fund Cuts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

New York State Common Retirement Fund cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,639 shares of the medical equipment provider’s stock after selling 8,504 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of Zimmer Biomet worth $18,341,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Equity Investment Corp purchased a new stake in shares of Zimmer Biomet during the 3rd quarter valued at about $70,104,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after buying an additional 577,320 shares during the last quarter. Van ECK Associates Corp boosted its position in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after purchasing an additional 411,163 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Zimmer Biomet in the third quarter worth approximately $41,588,000. Finally, FMR LLC lifted its position in Zimmer Biomet by 27.6% during the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after purchasing an additional 162,384 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $104.89 on Friday. The stock has a 50 day moving average price of $105.86 and a 200-day moving average price of $107.45. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $133.90. The stock has a market cap of $20.88 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data 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. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet’s payout ratio is currently 21.57%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ZBH. Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Raymond James lowered their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Company 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.