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

Teacher Retirement System of Texas cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 60.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Garde Capital Inc. bought a new stake in shares of Zimmer Biomet during the 1st quarter worth $29,000. Menard Financial Group LLC acquired a new stake in Zimmer Biomet during the fourth quarter valued at $30,000. Washington Trust Advisors Inc. acquired a new stake in Zimmer Biomet during the first quarter valued at $30,000. Accredited Wealth Management LLC acquired a new stake in Zimmer Biomet during the fourth quarter valued at $36,000. Finally, OFI Invest Asset Management acquired a new stake in Zimmer Biomet during the fourth quarter valued at $40,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Trading Down 1.3%

NYSE:ZBH traded down $1.27 during trading hours on Friday, hitting $93.88. 1,573,583 shares of the stock were exchanged, compared to its average volume of 1,827,963. The company's 50 day moving average is $93.21 and its two-hundred day moving average is $101.35. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month 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. The company has a market capitalization of $18.57 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 2.17 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 (EPS) 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 for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business earned $1.94 EPS. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on ZBH. JMP Securities cut their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Raymond James Financial decreased their price objective on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. BTIG Research reaffirmed a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Finally, Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and an average target price of $110.00.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction 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 transaction, the insider owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.39% of the stock is currently owned by company insiders.

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.