California Public Employees Retirement System Has $35.23 Million Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

California Public Employees Retirement System cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333,503 shares of the medical equipment provider’s stock after selling 31,358 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Zimmer Biomet worth $35,228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares during the period. Van ECK Associates Corp grew its holdings in Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock valued at $417,814,000 after purchasing an additional 218,688 shares during the period. Norges Bank bought a new stake in Zimmer Biomet in the fourth quarter valued at approximately $216,223,000. Equity Investment Corp raised its holdings in Zimmer Biomet by 57.2% in the fourth quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock worth $107,855,000 after purchasing an additional 371,653 shares during the period. Finally, Sound Shore Management Inc. CT bought a new position in shares of Zimmer Biomet during the fourth quarter worth $81,447,000. Institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Raymond James lowered their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada dropped their price target on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Barclays decreased their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Truist Financial reaffirmed a “hold” rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Stock Up 0.2 %

Shares of ZBH stock opened at $112.54 on Thursday. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $130.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.95 and a beta of 1.04. The firm’s 50-day moving average is $107.35 and its 200-day moving average is $107.18.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the previous year, the business earned $2.20 earnings per share. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by 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.