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

New York State Common Retirement Fund boosted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,763 shares of the medical equipment provider's stock after purchasing an additional 8,124 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Zimmer Biomet worth $20,572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Garde Capital Inc. bought a new stake in shares of Zimmer Biomet during the 1st quarter valued at approximately $29,000. Menard Financial Group LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. acquired a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $30,000. Columbia River Financial Group LLC bought a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $30,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Insider Activity

In related news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider directly owned 20,424 shares in the company, valued at approximately $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.39% of the company's stock.

Wall Street Analyst Weigh In

ZBH has been the topic of several research reports. The Goldman Sachs Group lowered their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. 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 report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Evercore ISI cut their price objective on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a report on Tuesday, July 8th. Finally, JMP Securities decreased their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $111.39.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded up $0.01 during trading hours on Friday, reaching $94.91. 208,641 shares of the stock traded hands, compared to its average volume of 1,826,613. The company has a 50 day moving average price of $93.30 and a 200 day moving average price of $101.01. The firm has a market capitalization of $18.78 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.18 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53.

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

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.01%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

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.