PNC Financial Services Group Inc. Raises Position in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• PNC Financial Services increased its stake in Zimmer Biomet by 9.4% in the fourth quarter, holding 161,195 shares worth about $14.5 million at quarter-end.
• Zimmer Biomet reported better-than-expected quarterly results, with EPS of $2.09 versus estimates of $1.86 and revenue of $2.09 billion, up 9.3% year over year.
• Analysts remain cautious overall: the stock’s consensus rating is Hold, with an average price target of $102.80, while several firms recently trimmed their price targets.

PNC Financial Services Group Inc. lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,195 shares of the medical equipment provider's stock after purchasing an additional 13,883 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Zimmer Biomet worth $14,495,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ZBH. Key Financial Inc increased its stake in shares of Zimmer Biomet by 164.6% during the 3rd quarter. Key Financial Inc now owns 262 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 163 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in Zimmer Biomet by 66.7% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 116 shares in the last quarter. Root Financial Partners LLC purchased a new position in Zimmer Biomet in the 3rd quarter valued at approximately $31,000. Flagship Harbor Advisors LLC purchased a new position in Zimmer Biomet in the 4th quarter valued at approximately $32,000. Finally, Grove Bank & Trust grew its stake in Zimmer Biomet by 431.6% in the 4th quarter. Grove Bank & Trust now owns 404 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $85.41 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 company has a market capitalization of $16.52 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.98 and a beta of 0.48. The company has a fifty day moving average of $88.82 and a 200-day moving average of $90.98.

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, topping 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 company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $1.81 EPS. The firm's revenue 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, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.47 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Zimmer Biomet's payout ratio is currently 24.94%.

Analyst Ratings Changes

ZBH has been the subject of a number of recent research reports. Truist Financial reiterated a "hold" rating and issued a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Wells Fargo & Company reduced their price objective on shares of Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. William Blair initiated coverage on shares of Zimmer Biomet in a research note on Friday, February 20th. They issued a "market perform" rating for the company. Citigroup reduced their price objective on shares of Zimmer Biomet from $98.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, April 29th. Finally, BTIG Research reiterated a "neutral" rating on shares of Zimmer Biomet in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of "Hold" and an average price target of $102.80.

Insider Activity

In other Zimmer Biomet news, SVP Lori Winkler sold 2,650 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $94.66, for a total value of $250,849.00. Following the completion of the sale, the senior vice president directly owned 10,224 shares of the company's stock, valued at $967,803.84. The trade was a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.28% of the company's stock.

Zimmer Biomet 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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