California Public Employees Retirement System Sells 31,358 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

California Public Employees Retirement System trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 333,503 shares of the medical equipment provider's stock after selling 31,358 shares during the period. California Public Employees Retirement System owned 0.17% of Zimmer Biomet worth $35,228,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ZBH. Roman Butler Fullerton & Co. bought a new position in Zimmer Biomet in the fourth quarter worth about $473,000. Geode Capital Management LLC lifted its holdings in shares of Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider's stock worth $524,942,000 after purchasing an additional 125,852 shares during the last quarter. M&T Bank Corp boosted its position in Zimmer Biomet by 48.4% during the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider's stock valued at $2,884,000 after purchasing an additional 8,709 shares during the period. KLCM Advisors Inc. bought a new position in Zimmer Biomet during the 4th quarter worth $7,825,000. Finally, Peddock Capital Advisors LLC acquired a new stake in Zimmer Biomet in the fourth quarter worth $654,000. 88.89% of the stock is currently owned by institutional investors.

Insider Activity

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares of the company's stock, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

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Zimmer Biomet Stock Down 4.6 %

Shares of NYSE:ZBH traded down $5.20 during midday trading on Friday, hitting $107.46. 3,852,949 shares of the stock were exchanged, compared to its average volume of 1,587,609. The company has a market capitalization of $21.39 billion, a PE ratio of 24.15, a P/E/G ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The business's fifty day simple moving average is $107.38 and its two-hundred day simple moving average is $107.21.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period last year, the company posted $2.20 EPS. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet's dividend payout ratio (DPR) is 21.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZBH. Royal Bank of Canada lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Raymond James dropped their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Stifel Nicolaus boosted their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.