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

PNC Financial Services Group Inc. reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,784 shares of the medical equipment provider’s stock after selling 13,023 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Zimmer Biomet were worth $16,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZBH. Stonebridge Financial Group LLC bought a new position in Zimmer Biomet in the 4th quarter worth $25,000. Dunhill Financial LLC lifted its position in shares of Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Zimmer Biomet in the third quarter worth about $28,000. Brooklyn Investment Group purchased a new stake in shares of Zimmer Biomet during the third quarter worth about $35,000. Finally, Kentucky Trust Co bought a new stake in Zimmer Biomet during the 4th quarter valued at approximately $39,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Barclays dropped their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Truist Financial reaffirmed a “hold” rating and set a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Raymond James cut their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $110.08 on Tuesday. The firm has a market capitalization of $21.91 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $133.90. The firm has a 50-day moving average price of $105.65 and a 200-day moving average price of $107.13. 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) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the company earned $2.20 earnings per share. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet’s payout ratio is 21.57%.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.95% of the company’s stock.

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.