Illinois Municipal Retirement Fund Invests $716,000 in Zimmer Biomet Holdings Inc (NYSE:ZBH)

Illinois Municipal Retirement Fund bought a new position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,784 shares of the medical equipment provider’s stock, valued at approximately $716,000.

Several other hedge funds have also made changes to their positions in the company. Boyer & Corporon Wealth Management LLC raised its stake in Zimmer Biomet by 1.0% in the 4th quarter. Boyer & Corporon Wealth Management LLC now owns 32,863 shares of the medical equipment provider’s stock valued at $4,919,000 after purchasing an additional 327 shares during the last quarter. State Street Corp raised its stake in Zimmer Biomet by 2.3% in the 4th quarter. State Street Corp now owns 8,499,826 shares of the medical equipment provider’s stock valued at $1,274,275,000 after purchasing an additional 194,976 shares during the last quarter. Hancock Whitney Corp raised its stake in Zimmer Biomet by 40.5% in the 4th quarter. Hancock Whitney Corp now owns 6,713 shares of the medical equipment provider’s stock valued at $1,005,000 after purchasing an additional 1,935 shares during the last quarter. Boston Partners raised its stake in Zimmer Biomet by 8.6% in the 4th quarter. Boston Partners now owns 4,196,263 shares of the medical equipment provider’s stock valued at $628,081,000 after purchasing an additional 333,008 shares during the last quarter. Finally, IndexIQ Advisors LLC raised its stake in Zimmer Biomet by 27.6% in the 4th quarter. IndexIQ Advisors LLC now owns 32,712 shares of the medical equipment provider’s stock valued at $4,896,000 after purchasing an additional 7,073 shares during the last quarter. 87.64% of the stock is owned by institutional investors and hedge funds.

ZBH has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on Zimmer Biomet from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Oppenheimer increased their price objective on Zimmer Biomet from to in a research note on Wednesday, February 5th. Robert W. Baird increased their price objective on Zimmer Biomet from $161.00 to $172.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Leerink Swann increased their price objective on Zimmer Biomet from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. They noted that the move was a valuation call. Finally, BTIG Research reissued a “buy” rating and issued a $170.00 price objective on shares of Zimmer Biomet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Zimmer Biomet presently has an average rating of “Buy” and a consensus price target of $162.17.

Shares of ZBH opened at $160.40 on Friday. Zimmer Biomet Holdings Inc has a 52-week low of $111.17 and a 52-week high of $160.43. The company has a market capitalization of $32.99 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 2.67 and a beta of 1.17. The stock has a fifty day simple moving average of $150.84 and a two-hundred day simple moving average of $142.79. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

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

About Zimmer Biomet

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.

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

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