Illinois Municipal Retirement Fund Sells 21,312 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Illinois Municipal Retirement Fund reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,148 shares of the medical equipment provider's stock after selling 21,312 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Zimmer Biomet were worth $8,166,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ZBH. Garde Capital Inc. acquired a new position in shares of Zimmer Biomet during the 1st quarter worth about $29,000. Menard Financial Group LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $30,000. Accredited Wealth Management LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $40,000. Finally, FNY Investment Advisers LLC grew its position in shares of Zimmer Biomet by 90.5% in the 1st quarter. FNY Investment Advisers LLC now owns 400 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 190 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider now owns 20,424 shares in the company, valued at approximately $1,940,280. This represents a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Down 0.3%

Shares of Zimmer Biomet stock traded down $0.28 on Friday, reaching $91.46. 5,340,932 shares of the company were exchanged, compared to its average volume of 1,817,607. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The company has a market capitalization of $18.10 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.12 and a beta of 0.72. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $94.65 and a 200 day moving average of $102.26.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The business's revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. Wells Fargo & Company decreased their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Robert W. Baird decreased their price objective on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Canaccord Genuity Group decreased their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Finally, Morgan Stanley decreased their price objective on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $111.53.

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.