PNC Financial Services Group Inc. Decreases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

PNC Financial Services Group Inc. decreased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.0% during the 3rd quarter, Holdings Channel.com reports. 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.’s holdings in Zimmer Biomet were worth $18,547,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Crewe Advisors LLC purchased a new stake in Zimmer Biomet in the first quarter valued at $31,000. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet in the third quarter valued at about $28,000. Bangor Savings Bank purchased a new position in shares of Zimmer Biomet in the third quarter valued at $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet in the second quarter valued at about $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Zimmer Biomet during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the topic of several recent analyst reports. Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. Wells Fargo & Company boosted their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. JPMorgan Chase & Co. cut their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Royal Bank of Canada lifted their target price on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.22.

Zimmer Biomet Trading Down 0.8 %

Zimmer Biomet stock opened at $108.40 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $106.71 and a 200-day simple moving average of $109.85. The stock has a market capitalization of $21.58 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02.

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, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $1.65 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is 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.