New Mexico Educational Retirement Board reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 18,672 shares of the medical equipment provider’s stock after selling 1,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Zimmer Biomet Holdings were worth $2,265,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Oakbrook Investments LLC acquired a new stake in Zimmer Biomet Holdings during the first quarter valued at approximately $1,010,000. Ledyard National Bank boosted its stake in Zimmer Biomet Holdings by 9.3% in the first quarter. Ledyard National Bank now owns 1,293 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 110 shares in the last quarter. DnB Asset Management AS boosted its stake in Zimmer Biomet Holdings by 16.2% in the first quarter. DnB Asset Management AS now owns 22,208 shares of the medical equipment provider’s stock valued at $2,712,000 after buying an additional 3,100 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Zimmer Biomet Holdings by 3.2% in the first quarter. Farmers & Merchants Investments Inc. now owns 2,555 shares of the medical equipment provider’s stock valued at $312,000 after buying an additional 80 shares in the last quarter. Finally, Heritage Investors Management Corp boosted its stake in Zimmer Biomet Holdings by 3.6% in the first quarter. Heritage Investors Management Corp now owns 110,855 shares of the medical equipment provider’s stock valued at $13,537,000 after buying an additional 3,837 shares in the last quarter. 83.62% of the stock is owned by institutional investors.

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) opened at 110.13 on Friday. The stock has a 50 day moving average price of $125.44 and a 200-day moving average price of $121.28. The company has a market cap of $22.22 billion, a price-to-earnings ratio of 31.37 and a beta of 1.20. Zimmer Biomet Holdings, Inc. has a 12-month low of $95.63 and a 12-month high of $133.49.

Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.10 by $0.02. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.02 EPS. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post $8.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 22nd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Zimmer Biomet Holdings’s payout ratio is currently 27.59%.

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ZBH has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on Zimmer Biomet Holdings from $151.00 to $153.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. set a $132.00 target price on Zimmer Biomet Holdings and gave the stock a “buy” rating in a research note on Friday, April 28th. Goldman Sachs Group, Inc. (The) initiated coverage on Zimmer Biomet Holdings in a research note on Tuesday, May 16th. They set a “sell” rating and a $92.00 target price for the company. Zacks Investment Research cut Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Finally, Wells Fargo & Company cut Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $137.76.

In related news, insider Sang Yi sold 17,731 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $124.56, for a total value of $2,208,573.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Tony W. Collins sold 16,986 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $121.74, for a total value of $2,067,875.64. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Zimmer Biomet Holdings Company Profile

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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Institutional Ownership by Quarter for Zimmer Biomet Holdings (NYSE:ZBH)

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