Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,934 shares of the medical equipment provider's stock after selling 11,738 shares during the period. New York State Teachers Retirement System owned about 0.08% of Zimmer Biomet worth $17,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZBH. Garde Capital Inc. purchased a new stake in Zimmer Biomet during the 1st quarter worth about $29,000. Menard Financial Group LLC purchased a new stake in Zimmer Biomet during the fourth quarter worth approximately $30,000. Accredited Wealth Management LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new position in Zimmer Biomet in the fourth quarter valued at approximately $40,000. Finally, FNY Investment Advisers LLC raised its holdings in Zimmer Biomet by 90.5% during the first quarter. FNY Investment Advisers LLC now owns 400 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Insiders Place Their Bets

In other news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Royal Bank Of Canada decreased their price objective on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley cut their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Raymond James Financial lowered their target price on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $111.33.

Zimmer Biomet Trading Up 0.2%

Shares of NYSE:ZBH traded up $0.17 during midday trading on Friday, reaching $93.67. The company's stock had a trading volume of 927,032 shares, compared to its average volume of 1,811,399. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71. The business has a 50 day moving average price of $94.04 and a 200 day moving average price of $101.76. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 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 posted its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The firm's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 EPS. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is 21.24%.

Zimmer Biomet 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.