State of Alaska Department of Revenue Cuts Stake in Zimmer Biomet Holdings Inc (NYSE:ZBH)

State of Alaska Department of Revenue lowered its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,669 shares of the medical equipment provider’s stock after selling 1,752 shares during the period. State of Alaska Department of Revenue’s holdings in Zimmer Biomet were worth $3,727,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ZBH. Dimensional Fund Advisors LP lifted its holdings in shares of Zimmer Biomet by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,076,723 shares of the medical equipment provider’s stock worth $111,669,000 after acquiring an additional 77,026 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Zimmer Biomet by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 2,641,717 shares of the medical equipment provider’s stock worth $273,516,000 after acquiring an additional 205,532 shares during the period. MML Investors Services LLC lifted its holdings in shares of Zimmer Biomet by 3.4% during the 4th quarter. MML Investors Services LLC now owns 2,912 shares of the medical equipment provider’s stock worth $302,000 after acquiring an additional 96 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Zimmer Biomet by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 8,884 shares of the medical equipment provider’s stock worth $921,000 after acquiring an additional 156 shares during the period. Finally, Sowell Financial Services LLC lifted its holdings in shares of Zimmer Biomet by 9.0% during the 4th quarter. Sowell Financial Services LLC now owns 2,320 shares of the medical equipment provider’s stock worth $241,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 88.60% of the company’s stock.

ZBH stock traded down $0.27 during trading on Friday, reaching $137.23. 890,423 shares of the company were exchanged, compared to its average volume of 1,255,413. The business’s 50-day moving average is $121.80. The company has a market capitalization of $27.99 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 2.44 and a beta of 1.14. Zimmer Biomet Holdings Inc has a twelve month low of $96.99 and a twelve month high of $138.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, July 26th. The medical equipment provider reported $1.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.02. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Zimmer Biomet had a negative net margin of 4.56% and a positive return on equity of 13.40%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.70%. The ex-dividend date was Thursday, June 27th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 12.57%.

In other Zimmer Biomet news, insider Sang Yi sold 426 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $114.88, for a total value of $48,938.88. Following the completion of the transaction, the insider now directly owns 1,457 shares in the company, valued at approximately $167,380.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

A number of brokerages have recently weighed in on ZBH. Sanford C. Bernstein raised shares of Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price target for the company in a report on Tuesday, June 11th. Wells Fargo & Co upped their price target on shares of Zimmer Biomet from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday. Robert W. Baird raised shares of Zimmer Biomet from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $154.00 in a report on Monday. Cowen set a $140.00 price target on shares of Zimmer Biomet and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, TheStreet downgraded shares of Zimmer Biomet from a “b-” rating to a “c” rating in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $139.09.

Zimmer Biomet 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.

Read More: Moving Average Convergence Divergence (MACD)

Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings Inc (NYSE:ZBH).

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

Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.