California State Teachers Retirement System Has $30.32 Million Stock Position in Zimmer Biomet Holdings, Inc. $ZBH

California State Teachers Retirement System reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 335,360 shares of the medical equipment provider’s stock after selling 6,533 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Zimmer Biomet worth $30,323,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox grew its position in shares of Zimmer Biomet by 1.3% during the 4th quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider’s stock worth $2,113,736,000 after buying an additional 290,676 shares during the period. Vanguard Group Inc. lifted its position in shares of Zimmer Biomet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,483,741 shares of the medical equipment provider’s stock valued at $2,111,658,000 after acquiring an additional 192,517 shares during the period. State Street Corp lifted its position in shares of Zimmer Biomet by 2.3% during the 4th quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider’s stock valued at $795,814,000 after acquiring an additional 195,214 shares during the period. Franklin Resources Inc. boosted its stake in Zimmer Biomet by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock worth $601,204,000 after acquiring an additional 2,017,857 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Zimmer Biomet by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 5,233,834 shares of the medical equipment provider’s stock worth $468,821,000 after acquiring an additional 36,611 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on ZBH shares. Zacks Research downgraded shares of Zimmer Biomet from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Citizens Jmp cut their price objective on shares of Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings downgraded Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Stifel Nicolaus reduced their target price on Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, UBS Group assumed coverage on Zimmer Biomet in a research report on Tuesday. They issued a “buy” rating and a $115.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.00.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $94.20 on Friday. The firm has a market capitalization of $18.22 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.80 and a beta of 0.46. The firm has a fifty day simple moving average of $88.84 and a two-hundred day simple moving average of $89.86. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. Zimmer Biomet Holdings, Inc. has a 12 month low of $79.12 and a 12 month high of $108.29.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, June 25th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Zimmer Biomet’s payout ratio is 24.94%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.28% of the company’s stock.

Zimmer Biomet Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.