Teacher Retirement System of Texas Lowers Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Teacher Retirement System of Texas lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 60.8% during the first quarter, according to its most recent Form 13F filing 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 quarter. Teacher Retirement System of Texas' holdings in Zimmer Biomet were worth $3,299,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Zimmer Biomet by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider's stock valued at $485,000 after purchasing an additional 102 shares in the last quarter. MGO One Seven LLC boosted its holdings in shares of Zimmer Biomet by 5.1% during the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock valued at $238,000 after acquiring an additional 110 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Zimmer Biomet by 0.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock valued at $2,903,000 after acquiring an additional 118 shares in the last quarter. Erste Asset Management GmbH boosted its holdings in shares of Zimmer Biomet by 0.3% during the 4th quarter. Erste Asset Management GmbH now owns 41,487 shares of the medical equipment provider's stock valued at $4,434,000 after acquiring an additional 124 shares in the last quarter. Finally, Curbstone Financial Management Corp boosted its holdings in shares of Zimmer Biomet by 3.4% during the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock valued at $483,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZBH. Truist Financial set a $101.00 price objective on Zimmer Biomet in a report on Tuesday, May 6th. BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Morgan Stanley cut their price objective on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price objective on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Evercore ISI cut their price objective on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a report on Tuesday. Two 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $110.56.

Insider Buying and Selling

In related news, insider Sang Yi sold 1,000 shares of the business'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 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 SEC, which is available at the SEC website. 1.39% of the stock is owned by insiders.

Zimmer Biomet Trading Down 0.1%

Shares of ZBH stock traded down $0.05 during mid-day trading on Thursday, hitting $95.15. The company's stock had a trading volume of 2,345,927 shares, compared to its average volume of 1,823,629. The company's fifty day simple moving average is $93.51 and its 200-day simple moving average is $101.52. 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 quick ratio of 1.46 and a current ratio of 2.44. The company has a market cap of $18.83 billion, a PE ratio of 21.05, a P/E/G ratio of 2.20 and a beta of 0.71.

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

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's payout ratio is 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.