State of Michigan Retirement System Sells 900 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

State of Michigan Retirement System lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,315 shares of the medical equipment provider’s stock after selling 900 shares during the quarter. State of Michigan Retirement System’s holdings in Zimmer Biomet were worth $6,112,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet during the fourth quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Zimmer Biomet during the fourth quarter valued at approximately $30,000. Crewe Advisors LLC purchased a new stake in shares of Zimmer Biomet in the 1st quarter valued at $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet in the 2nd quarter valued at $33,000. Finally, J.Safra Asset Management Corp grew its holdings in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Down 0.1 %

Shares of Zimmer Biomet stock opened at $114.57 on Tuesday. The company has a 50-day simple moving average of $109.13 and a two-hundred day simple moving average of $117.54. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a market capitalization of $23.57 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.02 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 EPS. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZBH has been the subject of several recent research reports. The Goldman Sachs Group began coverage on Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective for the company. Evercore ISI dropped their price target on shares of Zimmer Biomet from $115.00 to $113.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, August 8th. Canaccord Genuity Group dropped their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating for the company in a report on Tuesday, August 20th. Finally, 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 note on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $127.11.

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.