Teacher Retirement System of Texas Sells 45,279 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Teacher Retirement System of Texas trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 60.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,146 shares of the medical equipment provider's stock after selling 45,279 shares during the period. Teacher Retirement System of Texas' holdings in Zimmer Biomet were worth $3,299,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ZBH. Franklin Resources Inc. lifted its holdings in shares of Zimmer Biomet by 398.7% in the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after purchasing an additional 2,796,372 shares in the last quarter. Norges Bank bought a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $216,223,000. Dodge & Cox lifted its holdings in shares of Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Zimmer Biomet by 191.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after purchasing an additional 913,310 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $81,447,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $1.69 during trading on Wednesday, hitting $95.16. 2,769,743 shares of the company were exchanged, compared to its average volume of 2,130,989. The company has a market cap of $18.83 billion, a PE ratio of 21.05, a P/E/G ratio of 2.14 and a beta of 0.71. The stock has a 50 day moving average of $93.67 and a 200 day moving average of $101.57. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $1.91 billion for 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 prior year, the firm earned $1.94 earnings per share. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

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. 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 currently 21.24%.

Analyst Ratings Changes

A number of analysts have recently commented on ZBH shares. Wells Fargo & Company cut their price target on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird dropped their target price on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Evercore ISI dropped their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a report on Tuesday. Canaccord Genuity Group dropped their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Finally, Raymond James Financial dropped their target price on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $110.56.

Insider Activity

In related news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction dated 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 directly owned 20,424 shares of the company's stock, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.39% of the company's stock.

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.