Kentucky Retirement Systems Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kentucky Retirement Systems reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,995 shares of the medical equipment provider’s stock after selling 193 shares during the period. Kentucky Retirement Systems’ holdings in Zimmer Biomet were worth $1,478,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares during the last quarter. Van ECK Associates Corp increased its stake in Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock valued at $417,814,000 after purchasing an additional 218,688 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Zimmer Biomet by 49.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after purchasing an additional 577,320 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Zimmer Biomet by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock valued at $108,621,000 after purchasing an additional 4,388 shares during the last quarter. Finally, FMR LLC increased its stake in Zimmer Biomet by 27.6% in the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after purchasing an additional 162,384 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Up 1.2 %

Shares of ZBH stock opened at $104.89 on Monday. The firm has a 50-day moving average price of $105.86 and a 200 day moving average price of $107.46. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $133.90. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.95 and a beta of 1.02. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the prior year, the company posted $2.20 earnings per share. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, December 30th. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Raymond James cut their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Truist Financial reaffirmed a “hold” rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $124.15.

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.