Teacher Retirement System of Texas Decreases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Teacher Retirement System of Texas cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 5.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,061 shares of the medical equipment provider’s stock after selling 1,707 shares during the period. Teacher Retirement System of Texas’ holdings in Zimmer Biomet were worth $3,143,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ZBH. Trust Asset Management LLC raised its holdings in shares of Zimmer Biomet by 4.3% during the second quarter. Trust Asset Management LLC now owns 2,182 shares of the medical equipment provider’s stock valued at $229,000 after purchasing an additional 90 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Zimmer Biomet by 0.7% during the third quarter. Crossmark Global Holdings Inc. now owns 14,006 shares of the medical equipment provider’s stock valued at $1,464,000 after buying an additional 91 shares during the period. Israel Discount Bank of New York grew its position in Zimmer Biomet by 1.7% during the second quarter. Israel Discount Bank of New York now owns 5,766 shares of the medical equipment provider’s stock valued at $606,000 after buying an additional 95 shares during the period. Creative Financial Designs Inc. ADV grew its position in Zimmer Biomet by 21.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 563 shares of the medical equipment provider’s stock valued at $59,000 after buying an additional 99 shares during the period. Finally, Sandy Spring Bank grew its position in Zimmer Biomet by 11.6% during the second quarter. Sandy Spring Bank now owns 961 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 100 shares during the period. 87.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ZBH. Jefferies Financial Group initiated coverage on shares of Zimmer Biomet in a research report on Wednesday, October 12th. They set an “underperform” rating and a $95.00 target price for the company. Raymond James upgraded shares of Zimmer Biomet from a “market perform” rating to an “outperform” rating and set a $144.00 price target for the company in a research report on Thursday, January 5th. Piper Sandler upped their price target on shares of Zimmer Biomet from $120.00 to $130.00 in a research report on Thursday, January 5th. Truist Financial upped their price target on shares of Zimmer Biomet from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, December 20th. Finally, Citigroup upped their price target on shares of Zimmer Biomet from $116.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, December 12th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $128.86.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $125.48 on Wednesday. The company has a market cap of $26.33 billion, a price-to-earnings ratio of 95.06, a PEG ratio of 2.37 and a beta of 1.04. The firm’s fifty day moving average is $123.44 and its 200 day moving average is $114.62. The company has a quick ratio of 1.05, a current ratio of 1.98 and a debt-to-equity ratio of 0.41. Zimmer Biomet Holdings, Inc. has a 52-week low of $100.39 and a 52-week high of $135.05.

Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The medical equipment provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Zimmer Biomet had a net margin of 3.89% and a return on equity of 11.92%. Zimmer Biomet’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 earnings per share. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 6.84 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, December 27th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 23rd. Zimmer Biomet’s dividend payout ratio is currently 72.73%.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.