Arizona State Retirement System Decreases Holdings in Zimmer Biomet Holdings Inc (ZBH)

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Arizona State Retirement System cut its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 20.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,089 shares of the medical equipment provider’s stock after selling 20,086 shares during the quarter. Arizona State Retirement System’s holdings in Zimmer Biomet were worth $8,479,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ZBH. JPMorgan Chase & Co. grew its holdings in shares of Zimmer Biomet by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 9,826,738 shares of the medical equipment provider’s stock worth $1,071,511,000 after purchasing an additional 450,979 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Zimmer Biomet by 5.5% in the first quarter. American Century Companies Inc. now owns 5,039,181 shares of the medical equipment provider’s stock worth $549,472,000 after purchasing an additional 261,784 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Zimmer Biomet by 13.1% in the first quarter. Wells Fargo & Company MN now owns 2,312,443 shares of the medical equipment provider’s stock worth $252,149,000 after purchasing an additional 268,068 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Zimmer Biomet in the first quarter worth approximately $179,652,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Zimmer Biomet by 3.7% in the first quarter. Wedge Capital Management L L P NC now owns 1,512,433 shares of the medical equipment provider’s stock worth $164,916,000 after purchasing an additional 54,020 shares during the last quarter. 87.11% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Raymond James raised their target price on shares of Zimmer Biomet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. Robert W. Baird raised their target price on shares of Zimmer Biomet from $121.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, July 30th. Citigroup raised their target price on shares of Zimmer Biomet from $117.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Jefferies Financial Group raised their target price on shares of Zimmer Biomet to $145.00 and gave the stock a “buy” rating in a report on Monday, July 30th. Finally, Piper Jaffray Companies raised their target price on shares of Zimmer Biomet from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, July 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $135.43.

In related news, insider Katarzyna Mazur-Hofsaess sold 8,765 shares of Zimmer Biomet stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $113.61, for a total value of $995,791.65. Following the sale, the insider now owns 25,447 shares in the company, valued at $2,891,033.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Tony W. Collins sold 2,778 shares of Zimmer Biomet stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $125.77, for a total transaction of $349,389.06. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

NYSE:ZBH opened at $123.86 on Monday. The firm has a market capitalization of $24.94 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.23 and a beta of 1.13. Zimmer Biomet Holdings Inc has a twelve month low of $104.28 and a twelve month high of $129.34. The company has a current ratio of 2.41, a quick ratio of 1.25 and a debt-to-equity ratio of 0.78.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Friday, July 27th. The medical equipment provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Zimmer Biomet had a net margin of 21.67% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. analysts predict that Zimmer Biomet Holdings Inc will post 7.67 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Friday, June 29th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, June 28th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 11.96%.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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