State of Michigan Retirement System Purchases 2,200 Shares of Zimmer Biomet Holdings, Inc. $ZBH

State of Michigan Retirement System lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,215 shares of the medical equipment provider’s stock after buying an additional 2,200 shares during the quarter. State of Michigan Retirement System’s holdings in Zimmer Biomet were worth $5,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC bought a new position in shares of Zimmer Biomet in the first quarter valued at $35,000. Cullen Frost Bankers Inc. grew its stake in shares of Zimmer Biomet by 1,452.4% in the first quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 305 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Zimmer Biomet in the first quarter valued at $48,000. Hilltop National Bank bought a new position in shares of Zimmer Biomet in the second quarter valued at $42,000. Finally, Brooklyn Investment Group grew its stake in shares of Zimmer Biomet by 45.9% in the first quarter. Brooklyn Investment Group now owns 461 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 145 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction on Monday, September 8th. The stock was sold at an average price of $104.15, for a total transaction of $156,225.00. Following the completion of the sale, the senior vice president owned 6,833 shares of the company’s stock, valued at approximately $711,656.95. This trade represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Zimmer Biomet Stock Up 3.6%

ZBH opened at $103.43 on Wednesday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $114.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. The company has a market capitalization of $20.49 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.29 and a beta of 0.67. The stock has a fifty day moving average of $101.22 and a 200-day moving average of $97.67.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 23.36%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ZBH shares. Stifel Nicolaus raised their target price on shares of Zimmer Biomet from $115.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zimmer Biomet in a research report on Wednesday, October 8th. Evercore ISI reduced their price objective on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Rothschild & Co Redburn started coverage on shares of Zimmer Biomet in a research report on Thursday, September 18th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Redburn Partners set a $130.00 price objective on shares of Zimmer Biomet in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target of $111.94.

Zimmer Biomet 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.