Illinois Municipal Retirement Fund Sells 12,069 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Illinois Municipal Retirement Fund reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 66,155 shares of the medical equipment provider’s stock after selling 12,069 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Zimmer Biomet were worth $8,051,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Naples Money Management LLC bought a new position in Zimmer Biomet in the fourth quarter valued at approximately $35,000. Activest Wealth Management boosted its stake in Zimmer Biomet by 410.4% in the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. Peoples Bank KS bought a new position in Zimmer Biomet in the third quarter valued at approximately $48,000. Impact Partnership Wealth LLC bought a new position in Zimmer Biomet in the third quarter valued at approximately $52,000. Finally, Blue Trust Inc. boosted its stake in Zimmer Biomet by 48.4% in the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after acquiring an additional 153 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ZBH. JPMorgan Chase & Co. raised their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. StockNews.com cut shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Truist Financial raised their price objective on shares of Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Canaccord Genuity Group restated a “hold” rating and set a $130.00 price objective on shares of Zimmer Biomet in a report on Friday, February 23rd. Finally, TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and an average target price of $139.39.

Zimmer Biomet Price Performance

ZBH stock opened at $121.52 on Wednesday. The company has a 50 day simple moving average of $126.19 and a 200 day simple moving average of $119.44. The stock has a market cap of $24.97 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 2.22 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the firm posted $1.88 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 19.63%.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by insiders.

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.