Kentucky Retirement Systems Insurance Trust Fund Sells 606 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,030 shares of the medical equipment provider’s stock after selling 606 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Zimmer Biomet were worth $651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZBH. Ashton Thomas Securities LLC bought a new stake in Zimmer Biomet in the 3rd quarter valued at $28,000. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet in the first quarter valued at about $31,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet during the 3rd quarter worth about $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet during the 2nd quarter worth about $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Zimmer Biomet in the 2nd quarter valued at about $43,000. 88.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZBH. TD Cowen reduced their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. BTIG Research lowered their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Truist Financial boosted their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Oppenheimer dropped their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Stock Up 0.4 %

Shares of Zimmer Biomet stock opened at $113.02 on Tuesday. The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.07 and a beta of 1.02. The stock’s 50-day moving average is $106.45 and its 200 day moving average is $109.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90.

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

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.24 per share. 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 0.85%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 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.