Principal Financial Group Inc. Trims Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Principal Financial Group Inc. cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 10.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,345 shares of the medical equipment provider's stock after selling 26,515 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Zimmer Biomet worth $25,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Trust N.A. boosted its position in Zimmer Biomet by 13.8% during the 2nd quarter. Raymond James Trust N.A. now owns 6,327 shares of the medical equipment provider's stock valued at $687,000 after acquiring an additional 766 shares in the last quarter. Kintegral Advisory LLC grew its stake in Zimmer Biomet by 12.0% in the second quarter. Kintegral Advisory LLC now owns 13,121 shares of the medical equipment provider's stock worth $1,427,000 after purchasing an additional 1,407 shares during the period. HB Wealth Management LLC boosted its stake in Zimmer Biomet by 2.8% during the second quarter. HB Wealth Management LLC now owns 3,864 shares of the medical equipment provider's stock worth $419,000 after acquiring an additional 107 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in Zimmer Biomet in the second quarter worth about $43,000. Finally, Speece Thorson Capital Group Inc. lifted its holdings in shares of Zimmer Biomet by 17.4% during the second quarter. Speece Thorson Capital Group Inc. now owns 183,284 shares of the medical equipment provider's stock valued at $19,892,000 after purchasing an additional 27,127 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of analyst reports. Evercore ISI reduced their price objective on Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating for the company in a research report on Tuesday, October 1st. BTIG Research dropped their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating on the stock in a report on Thursday, October 3rd. Barclays decreased their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an "underweight" rating for the company in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Finally, Raymond James lowered their target price on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $123.33.

Zimmer Biomet Price Performance

ZBH traded up $0.48 during trading on Wednesday, hitting $107.30. 458,577 shares of the company traded hands, compared to its average volume of 1,502,523. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company has a market cap of $21.36 billion, a PE ratio of 20.40, a P/E/G ratio of 1.96 and a beta of 1.02. The stock's 50-day simple moving average is $108.18 and its two-hundred day simple moving average is $108.32. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts' consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business posted $1.65 earnings per share. The business's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet's dividend payout ratio (DPR) is presently 18.25%.

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.