Principal Financial Group Inc. Sells 26,515 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Principal Financial Group Inc. reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after acquiring an additional 722,041 shares during the last quarter. Geode Capital Management LLC increased its stake in Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares in the last quarter. Van ECK Associates Corp raised its holdings in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after buying an additional 411,163 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Zimmer Biomet by 6.7% in the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after buying an additional 211,637 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Zimmer Biomet by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after buying an additional 9,990 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of recent analyst reports. Evercore ISI decreased their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Truist Financial boosted their price target on Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Oppenheimer dropped their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Canaccord Genuity Group decreased their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Finally, Barclays lowered their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.33.

Zimmer Biomet Trading Up 0.4 %

Shares of ZBH stock opened at $107.30 on Wednesday. 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 stock has a fifty day simple moving average of $108.12 and a two-hundred day simple moving average of $108.36. The firm has a market capitalization of $21.36 billion, a PE ratio of 20.40, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 52-week low of $101.47 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend 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 is currently 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.