Texas Permanent School Fund Corp Sells 7,946 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Texas Permanent School Fund Corp lessened its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 36.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,639 shares of the medical equipment provider’s stock after selling 7,946 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Zimmer Biomet were worth $1,244,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Zimmer Biomet by 83.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 149 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Zimmer Biomet in the 2nd quarter worth $37,000. CoreFirst Bank & Trust bought a new stake in shares of Zimmer Biomet in the 2nd quarter worth about $38,000. Hilltop National Bank purchased a new stake in shares of Zimmer Biomet during the 2nd quarter valued at about $42,000. Finally, True Wealth Design LLC increased its stake in Zimmer Biomet by 875.0% during the second quarter. True Wealth Design LLC now owns 468 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 420 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 0.4%

NYSE:ZBH opened at $89.44 on Wednesday. The company has a market cap of $17.73 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.36 and a beta of 0.61. Zimmer Biomet Holdings, Inc. has a twelve month low of $85.33 and a twelve month high of $114.44. The company has a current ratio of 2.43, a quick ratio of 1.39 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $94.68 and a 200-day simple moving average of $96.67.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.74 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, December 30th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. Zimmer Biomet’s payout ratio is presently 23.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZBH. Rothschild & Co Redburn initiated coverage on Zimmer Biomet in a research note on Thursday, September 18th. They issued a “buy” rating and a $130.00 price objective for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Zimmer Biomet in a research report on Wednesday, October 8th. Evercore ISI dropped their price objective on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. Wall Street Zen downgraded shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, BTIG Research lowered their target price on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $107.50.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.