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

Teacher Retirement System of Texas decreased its holdings 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. The fund 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Garde Capital Inc. bought a new stake in Zimmer Biomet during the 1st quarter worth approximately $29,000. Washington Trust Advisors Inc. bought a new stake in Zimmer Biomet during the 1st quarter worth approximately $30,000. Menard Financial Group LLC bought a new stake in Zimmer Biomet during the 4th quarter worth approximately $30,000. Accredited Wealth Management LLC bought a new stake in Zimmer Biomet during the 4th quarter worth approximately $36,000. Finally, OFI Invest Asset Management bought a new stake in Zimmer Biomet during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Raymond James Financial decreased 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 note on Tuesday, May 6th. Evercore ISI decreased their target price on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. JMP Securities reduced their price objective on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $110.56.

Insider Activity

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 approximately $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company's stock.

Zimmer Biomet Stock Up 1.0%

NYSE ZBH opened at $93.46 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $93.67 and a two-hundred day moving average of $101.57. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.14 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $116.71.

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

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend 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.

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