PNC Financial Services Group Inc. Sells 13,023 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

PNC Financial Services Group Inc. trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 158,784 shares of the medical equipment provider's stock after selling 13,023 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Zimmer Biomet worth $16,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. AMG National Trust Bank acquired a new position in shares of Zimmer Biomet during the fourth quarter worth about $3,697,000. Ashton Thomas Private Wealth LLC increased its stake in shares of Zimmer Biomet by 106.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 9,062 shares of the medical equipment provider's stock worth $959,000 after acquiring an additional 4,678 shares during the period. Callan Family Office LLC acquired a new position in Zimmer Biomet during the fourth quarter worth about $1,153,000. E Fund Management Co. Ltd. grew its position in Zimmer Biomet by 74.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 3,530 shares of the medical equipment provider's stock worth $373,000 after buying an additional 1,508 shares during the period. Finally, Candriam S.C.A. grew its position in Zimmer Biomet by 24.9% during the fourth quarter. Candriam S.C.A. now owns 21,769 shares of the medical equipment provider's stock worth $2,299,000 after buying an additional 4,336 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZBH has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research report on Monday, February 10th. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Raymond James lowered their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, Truist Financial reissued a "hold" rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and a consensus price target of $124.15.

Remove Ads

Zimmer Biomet Price Performance

ZBH stock traded up $3.60 on Thursday, hitting $107.63. 2,062,515 shares of the company's stock traded hands, compared to its average volume of 1,921,875. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $133.90. The stock has a market cap of $21.43 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.95 and a beta of 1.04. The stock has a fifty day moving average of $105.72 and a 200-day moving average of $107.06. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter last year, the firm earned $2.20 earnings per share. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Zimmer Biomet's dividend payout ratio is currently 21.57%.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.95% of the stock is owned by company 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.