TIAA Trust National Association Has $703,000 Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

TIAA Trust National Association cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 37.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,328 shares of the medical equipment provider’s stock after selling 3,250 shares during the quarter. TIAA Trust National Association’s holdings in Zimmer Biomet were worth $703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Zimmer Biomet in the fourth quarter worth about $30,000. J.Safra Asset Management Corp increased its position in Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares during the period. Naples Money Management LLC acquired a new stake in Zimmer Biomet in the fourth quarter worth about $35,000. Finally, Activest Wealth Management increased its position in Zimmer Biomet by 410.4% in the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 275 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of research reports. Evercore ISI lowered their price objective on Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective for the company. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Tuesday, May 21st. Citigroup lowered their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Morgan Stanley lowered their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $129.53.

Zimmer Biomet Stock Down 0.8 %

Shares of NYSE:ZBH traded down $0.89 during trading on Friday, hitting $110.50. 1,510,715 shares of the company’s stock traded hands, compared to its average volume of 1,652,033. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $143.24. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. The company has a market cap of $22.73 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.99 and a beta of 1.01. The company has a 50-day moving average price of $111.42 and a 200-day moving average price of $119.89.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the business posted $1.89 EPS. Zimmer Biomet’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

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.