Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,003 shares of the medical equipment provider’s stock after selling 5,405 shares during the quarter. PNC Financial Services Group Inc. owned about 0.08% of Zimmer Biomet worth $13,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZBH. Brighton Jones LLC acquired a new stake in Zimmer Biomet in the 4th quarter valued at about $204,000. CWM LLC grew its position in shares of Zimmer Biomet by 2.3% in the first quarter. CWM LLC now owns 8,078 shares of the medical equipment provider’s stock valued at $914,000 after purchasing an additional 180 shares in the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Zimmer Biomet by 37.1% in the first quarter. Wealthfront Advisers LLC now owns 3,803 shares of the medical equipment provider’s stock valued at $430,000 after purchasing an additional 1,030 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Zimmer Biomet by 1,452.4% during the first quarter. Cullen Frost Bankers Inc. now owns 326 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 305 shares in the last quarter. Finally, Forum Financial Management LP boosted its stake in Zimmer Biomet by 29.9% during the first quarter. Forum Financial Management LP now owns 4,559 shares of the medical equipment provider’s stock worth $516,000 after buying an additional 1,050 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $100.00 target price (down from $115.00) on shares of Zimmer Biomet in a research note on Thursday, November 6th. Stifel Nicolaus set a $110.00 price objective on shares of Zimmer Biomet in a report on Wednesday, November 5th. BTIG Research reduced their target price on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Canaccord Genuity Group reduced their price target on shares of Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $109.00.

Zimmer Biomet Price Performance

Shares of ZBH opened at $89.86 on Friday. Zimmer Biomet Holdings, Inc. has a 1-year low of $85.33 and a 1-year high of $114.72. The stock has a market cap of $17.81 billion, a PE ratio of 21.86, a P/E/G ratio of 2.29 and a beta of 0.67. The firm has a 50-day simple moving average of $98.56 and a two-hundred day simple moving average of $97.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 23.76%.

Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,500 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the sale, the senior vice president owned 6,833 shares in the company, valued at approximately $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.39% of the company’s stock.

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.