Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,602 shares of the medical equipment provider's stock after selling 23,758 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Zimmer Biomet worth $26,825,816 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZBH. Studio Investment Management LLC increased its holdings in shares of Zimmer Biomet by 17.3% during the second quarter. Studio Investment Management LLC now owns 22,209 shares of the medical equipment provider's stock worth $1,917,000 after buying an additional 3,282 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Zimmer Biomet during the second quarter worth $101,000. HB Wealth Management LLC boosted its holdings in Zimmer Biomet by 7.2% during the 2nd quarter. HB Wealth Management LLC now owns 18,538 shares of the medical equipment provider's stock worth $1,596,000 after acquiring an additional 1,249 shares during the last quarter. Saudi Central Bank lifted its position in shares of Zimmer Biomet by 85.2% during the second quarter. Saudi Central Bank now owns 13,550 shares of the medical equipment provider's stock worth $1,167,000 after acquiring an additional 6,235 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Zimmer Biomet in the second quarter worth approximately $3,753,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Chad Phipps sold 3,000 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $98.35, for a total value of $295,050.00. Following the sale, the insider directly owned 65,231 shares in the company, valued at $6,415,468.85. This represents 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. Company insiders own 1.28% of the company's stock.

Zimmer Biomet Stock Up 2.2%

Shares of ZBH stock traded up $2.14 on Tuesday, hitting $98.68. The stock had a trading volume of 868,498 shares, compared to its average volume of 2,248,571. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.47. The business has a 50 day moving average of $95.68 and a 200 day moving average of $91.45. Zimmer Biomet Holdings, Inc. has a 12-month low of $79.12 and a 12-month high of $106.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.94.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. Zimmer Biomet's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.54 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Zimmer Biomet's dividend payout ratio is currently 23.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ZBH shares. Sanford C. Bernstein lifted their price objective on Zimmer Biomet from $91.00 to $93.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. Canaccord Genuity Group upped their target price on shares of Zimmer Biomet from $83.00 to $100.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Truist Financial boosted 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. BMO Capital Markets reissued a "market perform" rating and issued a $96.00 price target on shares of Zimmer Biomet in a report on Thursday, August 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $104.42.

Zimmer Biomet Company Profile

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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