Kentucky Retirement Systems Insurance Trust Fund Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,897 shares of the medical equipment provider’s stock after selling 548 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Zimmer Biomet were worth $910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZBH. SG Americas Securities LLC raised its holdings in Zimmer Biomet by 133.2% during the fourth quarter. SG Americas Securities LLC now owns 8,359 shares of the medical equipment provider’s stock worth $1,017,000 after purchasing an additional 4,775 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Zimmer Biomet by 6.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,552 shares of the medical equipment provider’s stock worth $4,448,000 after purchasing an additional 2,298 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Zimmer Biomet by 0.7% during the fourth quarter. Pacer Advisors Inc. now owns 16,734 shares of the medical equipment provider’s stock worth $2,037,000 after purchasing an additional 109 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Zimmer Biomet during the fourth quarter worth $226,000. Finally, SeaCrest Wealth Management LLC raised its holdings in Zimmer Biomet by 2.5% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,688 shares of the medical equipment provider’s stock worth $802,000 after purchasing an additional 163 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Trading Up 0.3 %

ZBH stock traded up $0.32 during trading on Monday, reaching $111.61. 258,659 shares of the stock traded hands, compared to its average volume of 1,485,401. The business’s 50 day moving average price is $110.44 and its 200-day moving average price is $119.50. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $139.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The firm has a market capitalization of $22.96 billion, a PE ratio of 24.09, a P/E/G ratio of 2.00 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s payout ratio is 20.78%.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of analyst reports. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Tuesday, May 21st. Morgan Stanley cut their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Citigroup cut their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Truist Financial cut their price target on Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Finally, Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $140.00 to $115.00 in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $129.53.

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.