California Public Employees Retirement System Has $41.44 Million Holdings in Zimmer Biomet Holdings, Inc. $ZBH

California Public Employees Retirement System decreased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 13.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 458,304 shares of the medical equipment provider’s stock after selling 69,131 shares during the quarter. California Public Employees Retirement System’s holdings in Zimmer Biomet were worth $41,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Dodge & Cox increased its holdings in shares of Zimmer Biomet by 1.3% during the 4th quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider’s stock worth $2,113,736,000 after acquiring an additional 290,676 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Zimmer Biomet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,483,741 shares of the medical equipment provider’s stock valued at $2,111,658,000 after purchasing an additional 192,517 shares during the last quarter. State Street Corp boosted its position in Zimmer Biomet by 2.3% during the fourth quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider’s stock worth $795,814,000 after purchasing an additional 195,214 shares during the period. Franklin Resources Inc. increased its holdings in shares of Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock valued at $601,204,000 after purchasing an additional 2,017,857 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Zimmer Biomet by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 5,233,834 shares of the medical equipment provider’s stock valued at $468,821,000 after purchasing an additional 36,611 shares during the period. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $89.69 on Tuesday. The stock has a fifty day moving average price of $87.37 and a 200-day moving average price of $89.82. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 2.68 and a beta of 0.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $79.12 and a fifty-two week high of $108.29.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.Zimmer Biomet’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 24.94%.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares in the company, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ZBH. JPMorgan Chase & Co. cut their target price on shares of Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Citigroup lowered their price target on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. BTIG Research restated a “neutral” rating on shares of Zimmer Biomet in a report on Monday, March 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zimmer Biomet in a research note on Monday, July 6th. Finally, Wells Fargo & Company reduced their price target on Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and an average target price of $100.70.

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.