New York State Common Retirement Fund Grows Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

New York State Common Retirement Fund grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 181,763 shares of the medical equipment provider’s stock after purchasing an additional 8,124 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of Zimmer Biomet worth $20,572,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ZBH. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet during the first quarter valued at approximately $29,000. Menard Financial Group LLC purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. purchased a new position in Zimmer Biomet in the 1st quarter worth approximately $30,000. Columbia River Financial Group LLC purchased a new position in Zimmer Biomet in the 1st quarter worth approximately $30,000. Finally, Accredited Wealth Management LLC purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $36,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZBH. Canaccord Genuity Group decreased their price objective on shares of Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a report on Monday, May 12th. Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the stock a “buy” rating in a report on Tuesday, May 6th. Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a report on Tuesday, May 6th. Finally, Raymond James Financial decreased their price objective on shares of Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $111.39.

Zimmer Biomet Trading Up 0.1%

Shares of ZBH stock opened at $93.99 on Wednesday. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The firm has a fifty day moving average price of $93.31 and a 200-day moving average price of $101.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The company has a market cap of $18.60 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.17 and a beta of 0.71.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current 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 issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet’s dividend payout ratio is currently 21.24%.

Insiders Place Their Bets

In related news, insider Sang Yi sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the insider owned 20,424 shares of the company’s stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

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.