PNC Financial Services Group Inc. Has $18.55 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

PNC Financial Services Group Inc. trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,807 shares of the medical equipment provider's stock after selling 10,918 shares during the period. PNC Financial Services Group Inc. owned 0.09% of Zimmer Biomet worth $18,547,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet in the 3rd quarter worth approximately $28,000. Crewe Advisors LLC bought a new stake in shares of Zimmer Biomet during the 1st quarter valued at $31,000. Bangor Savings Bank bought a new stake in Zimmer Biomet during the third quarter worth about $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet during the second quarter valued at approximately $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Zimmer Biomet in the 2nd quarter worth approximately $43,000. 88.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on ZBH shares. TD Cowen reduced their target price on Zimmer Biomet from $143.00 to $119.00 and set a "hold" rating for the company in a report on Friday, September 6th. Raymond James reduced their price target on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating for the company in a research report on Monday, October 14th. Royal Bank of Canada lifted their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Monday, November 4th. BTIG Research lowered their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Finally, Wolfe Research started coverage on Zimmer Biomet in a report on Tuesday, September 10th. They issued a "peer perform" rating on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $123.22.

Zimmer Biomet Stock Performance

ZBH stock traded up $1.83 during midday trading on Friday, reaching $110.23. The company had a trading volume of 2,015,036 shares, compared to its average volume of 1,500,077. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $21.94 billion, a PE ratio of 20.96, a P/E/G ratio of 2.04 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The stock has a 50 day moving average price of $106.79 and a 200 day moving average price of $109.78.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.74. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.87%. Zimmer Biomet's dividend payout ratio (DPR) is presently 18.25%.

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.