State of Tennessee Treasury Department Has $24.50 Million Stock Holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH)

State of Tennessee Treasury Department lifted its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,717 shares of the medical equipment provider’s stock after acquiring an additional 5,890 shares during the period. State of Tennessee Treasury Department owned approximately 0.08% of Zimmer Biomet worth $24,504,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ZBH. Boston Partners grew its stake in shares of Zimmer Biomet by 8.6% in the fourth quarter. Boston Partners now owns 4,196,263 shares of the medical equipment provider’s stock worth $628,081,000 after acquiring an additional 333,008 shares during the last quarter. Anchor Capital Advisors LLC grew its stake in shares of Zimmer Biomet by 61.9% in the fourth quarter. Anchor Capital Advisors LLC now owns 531,607 shares of the medical equipment provider’s stock worth $79,571,000 after acquiring an additional 203,268 shares during the last quarter. Phoenix Holdings Ltd. acquired a new stake in shares of Zimmer Biomet in the third quarter worth $25,567,000. State Street Corp grew its stake in shares of Zimmer Biomet by 2.3% in the fourth quarter. State Street Corp now owns 8,499,826 shares of the medical equipment provider’s stock worth $1,274,275,000 after acquiring an additional 194,976 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Zimmer Biomet by 33.1% in the third quarter. California Public Employees Retirement System now owns 495,319 shares of the medical equipment provider’s stock worth $67,992,000 after acquiring an additional 123,252 shares during the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.

ZBH has been the topic of several research analyst reports. Needham & Company LLC restated a “strong-buy” rating and issued a $189.00 price objective (up previously from $187.00) on shares of Zimmer Biomet in a research note on Tuesday, February 4th. TheStreet upgraded shares of Zimmer Biomet from a “c+” rating to a “b” rating in a research note on Tuesday, November 5th. Citigroup upgraded shares of Zimmer Biomet from a “neutral” rating to a “buy” rating in a research note on Thursday, January 2nd. Piper Jaffray Companies upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $140.00 to $170.00 in a research note on Tuesday, January 7th. Finally, Raymond James raised their price objective on shares of Zimmer Biomet from $170.00 to $190.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $162.17.

Shares of NYSE ZBH traded up $1.59 during midday trading on Friday, reaching $160.32. 46,398 shares of the company traded hands, compared to its average volume of 1,025,529. The firm has a market cap of $32.54 billion, a PE ratio of 29.32, a PEG ratio of 2.67 and a beta of 1.17. The stock’s 50-day simple moving average is $150.84 and its 200-day simple moving average is $142.79. Zimmer Biomet Holdings Inc has a 12 month low of $111.17 and a 12 month high of $159.83. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.68 and a current ratio of 1.37.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Tuesday, February 4th. The medical equipment provider reported $2.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.03. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Zimmer Biomet had a return on equity of 13.64% and a net margin of 14.18%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $2.18 earnings per share. On average, equities research analysts expect that Zimmer Biomet Holdings Inc will post 8.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, December 27th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.60%. Zimmer Biomet’s payout ratio is presently 12.20%.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

Further Reading: What does cost of debt say about a company’s financial health?

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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