California Public Employees Retirement System Has $60.75 Million Stock Holdings in Zimmer Biomet Holdings, Inc. $ZBH

California Public Employees Retirement System grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 107.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 666,049 shares of the medical equipment provider’s stock after purchasing an additional 345,679 shares during the quarter. California Public Employees Retirement System owned about 0.34% of Zimmer Biomet worth $60,750,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ZBH. Ameriprise Financial Inc. boosted its holdings in Zimmer Biomet by 236.0% during the first quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider’s stock worth $517,039,000 after buying an additional 3,208,596 shares during the last quarter. Dodge & Cox increased its stake in shares of Zimmer Biomet by 12.9% in the 2nd quarter. Dodge & Cox now owns 22,097,463 shares of the medical equipment provider’s stock valued at $2,015,510,000 after acquiring an additional 2,533,009 shares during the last quarter. Norges Bank acquired a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $225,867,000. JPMorgan Chase & Co. boosted its stake in Zimmer Biomet by 251.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider’s stock worth $235,571,000 after acquiring an additional 1,488,918 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Zimmer Biomet during the first quarter valued at approximately $155,891,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Trading Down 0.4%

NYSE:ZBH opened at $92.37 on Wednesday. The company has a market cap of $18.31 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 2.44 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 business has a 50 day moving average price of $96.07 and a two-hundred day moving average price of $96.76. The company has a quick ratio of 1.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.59.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on ZBH shares. BTIG Research reduced their target price on Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Stifel Nicolaus set a $110.00 price objective on Zimmer Biomet in a report on Wednesday, November 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $100.00 price objective (down from $115.00) on shares of Zimmer Biomet in a research report on Thursday, November 6th. UBS Group dropped their target price on shares of Zimmer Biomet from $96.00 to $88.00 and set a “sell” rating on the stock in a report on Thursday, November 6th. Finally, Royal Bank Of Canada reduced their price target on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $109.00.

Zimmer Biomet Profile

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.