State of Alaska Department of Revenue Reduces Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

State of Alaska Department of Revenue trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.4% during the first quarter, Holdings Channel.com reports. The firm owned 49,076 shares of the medical equipment provider’s stock after selling 8,930 shares during the period. State of Alaska Department of Revenue’s holdings in Zimmer Biomet were worth $6,476,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ZBH. OLD Point Trust & Financial Services N A acquired a new stake in Zimmer Biomet during the fourth quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zimmer Biomet during the 4th quarter worth $30,000. Naples Money Management LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth $35,000. Activest Wealth Management grew its position in shares of Zimmer Biomet by 410.4% in the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 275 shares during the period. Finally, Blue Trust Inc. increased its stake in Zimmer Biomet by 48.4% in the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after purchasing an additional 153 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZBH has been the topic of a number of research analyst reports. Truist Financial decreased their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Citigroup boosted their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Oppenheimer increased their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Barclays lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average target price of $131.76.

Zimmer Biomet Stock Up 0.3 %

Shares of NYSE ZBH opened at $106.57 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $144.13. The stock’s 50-day simple moving average is $114.69 and its 200-day simple moving average is $121.05. The firm has a market cap of $21.92 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.91 and a beta of 1.01.

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

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

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.