Illinois Municipal Retirement Fund Sells 21,312 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Illinois Municipal Retirement Fund lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 22.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 72,148 shares of the medical equipment provider’s stock after selling 21,312 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Zimmer Biomet were worth $8,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Diversified Trust Co bought a new stake in Zimmer Biomet in the first quarter valued at approximately $228,000. New World Advisors LLC lifted its position in Zimmer Biomet by 26.9% in the first quarter. New World Advisors LLC now owns 4,838 shares of the medical equipment provider’s stock valued at $548,000 after purchasing an additional 1,025 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Zimmer Biomet by 103.0% in the first quarter. Golden State Wealth Management LLC now owns 1,411 shares of the medical equipment provider’s stock valued at $160,000 after purchasing an additional 716 shares during the last quarter. Spire Wealth Management lifted its position in Zimmer Biomet by 1,224.8% in the first quarter. Spire Wealth Management now owns 17,156 shares of the medical equipment provider’s stock valued at $1,942,000 after purchasing an additional 15,861 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Zimmer Biomet by 2.0% in the first quarter. Asset Management One Co. Ltd. now owns 83,548 shares of the medical equipment provider’s stock valued at $9,456,000 after purchasing an additional 1,635 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Down 0.3%

NYSE ZBH opened at $91.46 on Friday. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The stock has a market cap of $18.10 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.12 and a beta of 0.72. The stock’s fifty day moving average price is $94.65 and its 200-day moving average price is $102.26. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.89 billion. During the same period in the prior year, the firm posted $1.94 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced 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. 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 1.05%. Zimmer Biomet’s dividend payout ratio is currently 21.24%.

Insider Transactions at Zimmer Biomet

In related 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 transaction of $95,000.00. Following the sale, the insider now directly owns 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 filing with the SEC, which is available at the SEC website. Insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a report on Monday, May 12th. The Goldman Sachs Group decreased their target price on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Finally, Truist Financial set a $101.00 target price on Zimmer Biomet in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and an average price target of $111.53.

About Zimmer Biomet

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.