Maryland State Retirement & Pension System Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Maryland State Retirement & Pension System cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,577 shares of the medical equipment provider’s stock after selling 1,104 shares during the period. Maryland State Retirement & Pension System’s holdings in Zimmer Biomet were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Zimmer Biomet by 5.9% in the 4th 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 last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after purchasing an additional 577,320 shares during the last quarter. Equity Investment Corp increased its position in shares of Zimmer Biomet by 57.2% in the 4th quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock valued at $107,855,000 after purchasing an additional 371,653 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Zimmer Biomet by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock valued at $108,621,000 after purchasing an additional 4,388 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 0.9 %

ZBH stock opened at $110.79 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $133.90. The stock has a market capitalization of $22.05 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. 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 company has a fifty day moving average of $106.74 and a 200-day moving average of $106.86.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the firm posted $2.20 earnings per share. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio (DPR) is 21.57%.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ZBH. Stifel Nicolaus increased their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada dropped their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Raymond James dropped their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $124.15.

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.