New York State Common Retirement Fund Has $19.66 Million Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

New York State Common Retirement Fund reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 182,143 shares of the medical equipment provider’s stock after selling 19,344 shares during the quarter. New York State Common Retirement Fund owned 0.09% of Zimmer Biomet worth $19,662,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth $31,000. J.Safra Asset Management Corp boosted its stake in Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 235 shares in the last quarter. Bangor Savings Bank acquired a new stake in Zimmer Biomet in the third quarter valued at about $31,000. Family Firm Inc. acquired a new stake in Zimmer Biomet in the second quarter valued at about $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Zimmer Biomet in the second quarter valued at about $43,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZBH has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. UBS Group reduced their price objective on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Oppenheimer dropped their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. BTIG Research dropped their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada increased their target price on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $124.11.

Zimmer Biomet Price Performance

Shares of ZBH opened at $108.41 on Tuesday. The company has a market capitalization of $21.58 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business has a 50-day moving average of $106.83 and a 200-day moving average of $110.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. As a group, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is currently 18.25%.

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.