Illinois Municipal Retirement Fund Lowers Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Illinois Municipal Retirement Fund reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,155 shares of the medical equipment provider's stock after selling 12,069 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Zimmer Biomet were worth $8,051,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its holdings in shares of Zimmer Biomet by 4.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 8,540 shares of the medical equipment provider's stock valued at $958,000 after buying an additional 366 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Zimmer Biomet by 20.4% during the 3rd quarter. IFP Advisors Inc now owns 2,763 shares of the medical equipment provider's stock valued at $310,000 after buying an additional 469 shares in the last quarter. PFG Advisors boosted its holdings in shares of Zimmer Biomet by 7.5% during the 3rd quarter. PFG Advisors now owns 1,815 shares of the medical equipment provider's stock valued at $204,000 after buying an additional 126 shares in the last quarter. Ziegler Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 10.2% during the 3rd quarter. Ziegler Capital Management LLC now owns 30,915 shares of the medical equipment provider's stock valued at $3,469,000 after buying an additional 2,852 shares in the last quarter. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Zimmer Biomet during the 3rd quarter valued at $52,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded down $0.35 during midday trading on Wednesday, hitting $121.17. 978,424 shares of the company's stock traded hands, compared to its average volume of 1,458,328. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. The firm has a fifty day moving average of $126.19 and a 200 day moving average of $119.44.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet's dividend payout ratio is 19.63%.

Analyst Ratings Changes

A number of brokerages have recently commented on ZBH. Raymond James boosted their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an "outperform" rating in a report on Wednesday, January 3rd. Truist Financial upped their price target on shares of Zimmer Biomet from $133.00 to $135.00 and gave the stock a "hold" rating in a research note on Friday, February 9th. StockNews.com cut shares of Zimmer Biomet from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 19th. TheStreet upgraded shares of Zimmer Biomet from a "c" rating to a "b-" rating in a research note on Thursday, February 8th. Finally, Evercore ISI upped their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an "in-line" rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $139.39.

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.