PNC Financial Services Group Inc. Has $13.17 Million Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• PNC Financial Services cut its Zimmer Biomet stake by 9.7% in the first quarter, but still held 145,637 shares worth about $13.17 million as of its latest SEC filing.
• Zimmer Biomet reported strong quarterly results, with EPS of $2.09 topping estimates and revenue of $2.09 billion, up 9.3% year over year. The company also reaffirmed a FY 2026 EPS guidance range of 8.40 to 8.55.
• The company declared a quarterly dividend of $0.24 per share, while analysts remain cautious overall with a consensus rating of Hold and an average price target of $100.70.

PNC Financial Services Group Inc. lowered its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 9.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 145,637 shares of the medical equipment provider's stock after selling 15,558 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Zimmer Biomet worth $13,169,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ZBH. Oslo Pensjonsforsikring AS bought a new position in Zimmer Biomet during the first quarter worth $184,000. Glenview Trust Co lifted its stake in shares of Zimmer Biomet by 23.8% during the 1st quarter. Glenview Trust Co now owns 4,894 shares of the medical equipment provider's stock worth $443,000 after buying an additional 941 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth about $44,000. Dimensional Fund Advisors LP boosted its holdings in shares of Zimmer Biomet by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,224,163 shares of the medical equipment provider's stock worth $201,082,000 after buying an additional 24,208 shares during the period. Finally, Sound Shore Management Inc. CT boosted its holdings in shares of Zimmer Biomet by 23.7% during the 1st quarter. Sound Shore Management Inc. CT now owns 1,052,202 shares of the medical equipment provider's stock worth $95,140,000 after buying an additional 201,445 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $91.35 on Friday. Zimmer Biomet Holdings, Inc. has a 52 week low of $79.12 and a 52 week high of $108.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. The firm's 50-day simple moving average is $87.90 and its 200 day simple moving average is $89.81. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 2.69 and a beta of 0.46.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, June 25th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. Zimmer Biomet's dividend payout ratio is currently 24.94%.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of Zimmer Biomet stock in a transaction on Friday, May 29th. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares of the company's stock, valued at $2,252,022.64. The trade was a 15.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ZBH has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, April 29th. Robert W. Baird set a $92.00 price objective on Zimmer Biomet in a report on Wednesday, April 29th. Wells Fargo & Company decreased their target price on Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 29th. Citigroup lowered their target price on Zimmer Biomet from $95.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, May 28th. Finally, BMO Capital Markets assumed coverage on Zimmer Biomet in a report on Wednesday, July 8th. They set a "market perform" rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $100.70.

Zimmer Biomet Company Profile

Zimmer Biomet NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company's product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.

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