Principal Financial Group Inc. Has $25.30 Million Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Principal Financial Group Inc. reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,345 shares of the medical equipment provider's stock after selling 26,515 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Zimmer Biomet worth $25,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Zimmer Biomet by 50.6% in the first quarter. Empowered Funds LLC now owns 3,757 shares of the medical equipment provider's stock worth $496,000 after purchasing an additional 1,262 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter valued at approximately $201,000. QRG Capital Management Inc. increased its holdings in shares of Zimmer Biomet by 62.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,133 shares of the medical equipment provider's stock valued at $941,000 after purchasing an additional 2,740 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Zimmer Biomet by 6.2% in the 1st quarter. Bleakley Financial Group LLC now owns 2,271 shares of the medical equipment provider's stock valued at $300,000 after acquiring an additional 132 shares during the period. Finally, Entropy Technologies LP acquired a new stake in Zimmer Biomet in the 1st quarter valued at $990,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $0.13 on Wednesday, hitting $110.07. The company's stock had a trading volume of 362,041 shares, compared to its average volume of 1,484,519. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The company has a market capitalization of $21.91 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.02 and a beta of 1.02. The stock's 50-day moving average is $106.13 and its two-hundred day moving average is $110.19. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90.

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

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet's payout ratio is 18.25%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZBH shares. Robert W. Baird lowered their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group dropped their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating for the company in a report on Tuesday, September 10th. Truist Financial upped their price objective on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a "hold" rating in a report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Finally, UBS Group dropped their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $124.11.

Zimmer Biomet Company 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.