Oregon Public Employees Retirement Fund Trims Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Oregon Public Employees Retirement Fund decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,662 shares of the medical equipment provider’s stock after selling 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Zimmer Biomet were worth $1,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ZBH. Price T Rowe Associates Inc. MD grew its holdings in Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after purchasing an additional 1,215,935 shares during the period. Primecap Management Co. CA grew its stake in shares of Zimmer Biomet by 10.5% during the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after acquiring an additional 484,151 shares during the period. Van ECK Associates Corp increased its holdings in Zimmer Biomet by 5.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after acquiring an additional 167,038 shares in the last quarter. Boston Partners raised its stake in Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after acquiring an additional 691,191 shares during the period. Finally, Norges Bank purchased a new position in Zimmer Biomet during the fourth quarter valued at approximately $266,896,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $104.79 on Friday. The firm has a market capitalization of $21.34 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The business has a 50 day simple moving average of $110.04 and a 200-day simple moving average of $116.93. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90.

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

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is currently 20.78%.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $115.00 in a report on Monday, July 1st. Citigroup dropped their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley decreased their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Finally, Evercore ISI restated an “in-line” rating and issued a $113.00 price target on shares of Zimmer Biomet in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $126.00.

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.