New York State Teachers Retirement System Trims Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

New York State Teachers Retirement System lessened its stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,934 shares of the medical equipment provider's stock after selling 11,738 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Zimmer Biomet worth $17,762,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ZBH. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $29,000. Menard Financial Group LLC acquired a new position in Zimmer Biomet during the fourth quarter worth $30,000. Accredited Wealth Management LLC purchased a new position in shares of Zimmer Biomet during the fourth quarter worth $36,000. OFI Invest Asset Management acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at $40,000. Finally, FNY Investment Advisers LLC raised its holdings 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 buying an additional 190 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZBH. Canaccord Genuity Group lowered their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a report on Monday, May 12th. Wells Fargo & Company lowered their price objective on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Raymond James Financial reduced their target price on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Robert W. Baird dropped their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet presently has a consensus rating of "Hold" and an average target price of $111.33.

Insider Activity

In other Zimmer Biomet 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 value of $95,000.00. Following the completion of the sale, the insider owned 20,424 shares in the company, valued at approximately $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.39% of the stock is currently owned by company insiders.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $93.50 on Thursday. The stock's 50-day simple moving average is $94.35 and its 200-day simple moving average is $101.97. The firm has a market capitalization of $18.50 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44.

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

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's payout ratio is currently 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.

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