California State Teachers Retirement System Purchases 26,490,456 Shares of Zimmer Biomet Holdings, Inc. $ZBH

California State Teachers Retirement System increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7,899.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,825,816 shares of the medical equipment provider's stock after buying an additional 26,490,456 shares during the period. California State Teachers Retirement System owned about 14.06% of Zimmer Biomet worth $2,309,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC boosted its stake in Zimmer Biomet by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 10,962 shares of the medical equipment provider's stock valued at $986,000 after buying an additional 112 shares during the period. Citizens National Bank Trust Department grew its position in shares of Zimmer Biomet by 17.6% in the 1st quarter. Citizens National Bank Trust Department now owns 941 shares of the medical equipment provider's stock worth $85,000 after buying an additional 141 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Zimmer Biomet by 15.3% in the 4th quarter. TD Private Client Wealth LLC now owns 1,152 shares of the medical equipment provider's stock worth $104,000 after purchasing an additional 153 shares during the period. Leonteq Securities AG lifted its stake in shares of Zimmer Biomet by 5.3% in the 1st quarter. Leonteq Securities AG now owns 3,062 shares of the medical equipment provider's stock valued at $277,000 after purchasing an additional 153 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Zimmer Biomet by 5.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,133 shares of the medical equipment provider's stock valued at $282,000 after buying an additional 162 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Chad Phipps sold 3,000 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $98.35, for a total transaction of $295,050.00. Following the completion of the sale, the insider owned 65,231 shares in the company, valued at $6,415,468.85. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.28% of the stock is owned by company insiders.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $93.47 on Friday. The firm has a market capitalization of $17.83 billion, a P/E ratio of 22.74, a PEG ratio of 1.75 and a beta of 0.47. The stock has a 50-day simple moving average of $95.54 and a two-hundred day simple moving average of $91.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.94 and a current ratio of 1.69. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $79.12 and a fifty-two week high of $106.88.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.01 by $0.06. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. Zimmer Biomet had a return on equity of 13.12% and a net margin of 9.48%.Zimmer Biomet's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.54 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Zimmer Biomet's dividend payout ratio (DPR) is 23.36%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $96.00 price objective on shares of Zimmer Biomet in a research report on Thursday, August 6th. Canaccord Genuity Group upped their price objective on Zimmer Biomet from $83.00 to $100.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Royal Bank Of Canada lifted their target price on Zimmer Biomet from $101.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. UBS Group restated a "buy" rating and set a $120.00 price objective on shares of Zimmer Biomet in a research report on Thursday, August 6th. Finally, Truist Financial upped their target price on shares of Zimmer Biomet from $92.00 to $106.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $104.42.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc NYSE: ZBH is a medical technology company that develops, manufactures and markets products designed to treat musculoskeletal conditions. Its portfolio includes orthopedic implants and related systems for hip, knee, shoulder and other joint replacements, as well as products used in sports medicine, extremity care and trauma procedures.

The company also provides robotic- and computer-assisted surgical technologies, digital solutions and other tools intended to support orthopedic procedures and patient care.

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