Teacher Retirement System of Texas Sells 1,707 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Teacher Retirement System of Texas reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 30,061 shares of the medical equipment provider’s stock after selling 1,707 shares during the quarter. Teacher Retirement System of Texas’ holdings in Zimmer Biomet were worth $3,143,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Zimmer Biomet by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock valued at $2,954,843,000 after buying an additional 3,695,510 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Zimmer Biomet by 13.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,929,342 shares of the medical equipment provider’s stock valued at $938,117,000 after purchasing an additional 1,062,625 shares during the last quarter. Dodge & Cox raised its position in shares of Zimmer Biomet by 131.9% in the 2nd quarter. Dodge & Cox now owns 5,410,600 shares of the medical equipment provider’s stock valued at $568,438,000 after purchasing an additional 3,077,685 shares during the last quarter. Invesco Ltd. raised its position in shares of Zimmer Biomet by 12.7% in the 1st quarter. Invesco Ltd. now owns 2,307,356 shares of the medical equipment provider’s stock valued at $295,111,000 after purchasing an additional 259,741 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Zimmer Biomet by 10.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,958,532 shares of the medical equipment provider’s stock valued at $204,762,000 after purchasing an additional 178,999 shares during the last quarter. 87.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ZBH has been the subject of several research analyst reports. Truist Financial increased their price objective on shares of Zimmer Biomet from $120.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, December 20th. Evercore ISI lowered shares of Zimmer Biomet from an “outperform” rating to an “inline” rating and set a $130.00 price objective for the company. in a research report on Tuesday, January 3rd. Citigroup raised their price target on shares of Zimmer Biomet from $116.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, December 12th. Morgan Stanley raised their price target on shares of Zimmer Biomet from $120.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, January 6th. Finally, StockNews.com started coverage on shares of Zimmer Biomet in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $128.86.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $125.48 on Wednesday. The company has a 50 day moving average price of $123.44 and a 200-day moving average price of $114.62. Zimmer Biomet Holdings, Inc. has a 1-year low of $100.39 and a 1-year high of $135.05. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of 95.06, a price-to-earnings-growth ratio of 2.37 and a beta of 1.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.98 and a quick ratio of 1.05.

Zimmer Biomet (NYSE:ZBHGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The medical equipment provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. Zimmer Biomet had a net margin of 3.89% and a return on equity of 11.92%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company earned $1.81 EPS. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 6.84 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, December 27th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, December 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 0.77%. Zimmer Biomet’s dividend payout ratio is currently 72.73%.

Zimmer Biomet Company Profile

(Get Rating)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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

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