Illinois Municipal Retirement Fund Has $8.05 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Illinois Municipal Retirement Fund decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ZBH. Naples Money Management LLC bought a new stake in Zimmer Biomet during the fourth quarter worth $35,000. Activest Wealth Management raised its position in Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Peoples Bank KS bought a new stake in Zimmer Biomet during the third quarter worth $48,000. Impact Partnership Wealth LLC bought a new stake in Zimmer Biomet during the third quarter worth $52,000. Finally, Blue Trust Inc. raised its position in Zimmer Biomet by 48.4% during the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock worth $52,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the topic of several research analyst reports. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Truist Financial increased their price objective on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Citigroup increased their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $139.39.

Zimmer Biomet Trading Up 0.6 %

Shares of Zimmer Biomet stock opened at $121.52 on Wednesday. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $149.25. The stock’s 50-day simple moving average is $126.19 and its 200 day simple moving average is $119.44. The stock has a market capitalization of $24.97 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61.

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

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is 19.63%.

Insiders Place Their Bets

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

About Zimmer Biomet

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.