Kentucky Retirement Systems Sells 471 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kentucky Retirement Systems lessened its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,524 shares of the medical equipment provider’s stock after selling 471 shares during the quarter. Kentucky Retirement Systems’ holdings in Zimmer Biomet were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Matrix Asset Advisors Inc. NY increased its position in Zimmer Biomet by 45.3% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 131,096 shares of the medical equipment provider’s stock valued at $14,837,000 after acquiring an additional 40,869 shares in the last quarter. Garde Capital Inc. acquired a new stake in Zimmer Biomet in the 1st quarter valued at about $29,000. Roberts Wealth Advisors LLC increased its position in Zimmer Biomet by 0.8% in the 1st quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider’s stock valued at $2,093,000 after acquiring an additional 152 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in Zimmer Biomet in the 1st quarter valued at about $54,108,000. Finally, Premier Path Wealth Partners LLC increased its position in Zimmer Biomet by 21.0% in the 1st quarter. Premier Path Wealth Partners LLC now owns 12,472 shares of the medical equipment provider’s stock valued at $1,412,000 after acquiring an additional 2,168 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 0.9%

Shares of NYSE ZBH opened at $92.34 on Wednesday. The stock has a market cap of $18.27 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.12 and a beta of 0.72. The firm has a 50 day moving average price of $94.98 and a 200 day moving average price of $102.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet’s payout ratio is currently 21.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ZBH shares. Wells Fargo & Company lowered their price objective on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Canaccord Genuity Group lowered their price target on shares of Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a research report on Monday, May 12th. JMP Securities lowered their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $111.53.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider now owns 20,424 shares of the company’s stock, valued at approximately $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

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.