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

Maryland State Retirement & Pension System grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 16,479 shares of the medical equipment provider’s stock after buying an additional 445 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Zimmer Biomet were worth $1,996,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of Zimmer Biomet by 11,244.9% during the 4th quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock worth $8,146,000 after acquiring an additional 66,345 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Zimmer Biomet by 37.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock worth $18,981,000 after acquiring an additional 42,539 shares in the last quarter. TD Asset Management Inc raised its position in shares of Zimmer Biomet by 10.1% during the 4th quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after acquiring an additional 15,552 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Zimmer Biomet by 499.0% during the 4th quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock worth $16,397,000 after acquiring an additional 112,237 shares in the last quarter. Finally, Premier Path Wealth Partners LLC acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth about $1,093,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $0.01 during trading on Friday, reaching $106.59. The company’s stock had a trading volume of 77,522 shares, compared to its average volume of 1,494,633. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $144.13. The company has a market capitalization of $21.93 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The business has a 50 day moving average price of $114.14 and a 200-day moving average price of $120.85.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays cut their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Citigroup lifted their price target on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Evercore ISI cut their price target on Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating on the stock in a research report on Tuesday. Finally, Oppenheimer lifted their price target on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. One equities research 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, the company presently has an average rating of “Hold” and an average target price of $131.76.

Zimmer Biomet Company 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.