PNC Financial Services Group Inc. Has $23.76 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

PNC Financial Services Group Inc. trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 195,222 shares of the medical equipment provider's stock after selling 23,235 shares during the period. PNC Financial Services Group Inc. owned approximately 0.09% of Zimmer Biomet worth $23,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in Zimmer Biomet by 21.2% in the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider's stock valued at $545,809,000 after purchasing an additional 852,186 shares in the last quarter. Victory Capital Management Inc. boosted its position in Zimmer Biomet by 3.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider's stock valued at $389,355,000 after buying an additional 118,839 shares during the last quarter. Van ECK Associates Corp boosted its position in Zimmer Biomet by 23.7% in the 4th quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider's stock valued at $345,452,000 after buying an additional 543,344 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Zimmer Biomet by 16.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider's stock valued at $335,895,000 after buying an additional 386,019 shares during the last quarter. Finally, Boston Partners boosted its position in Zimmer Biomet by 29.2% in the 3rd quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider's stock valued at $302,366,000 after buying an additional 608,959 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company's stock.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $0.33 during trading hours on Wednesday, hitting $119.33. The stock had a trading volume of 949,107 shares, compared to its average volume of 1,430,029. The stock's fifty day simple moving average is $123.82 and its 200 day simple moving average is $121.50. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $147.50. The firm has a market capitalization of $24.55 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business earned $1.89 earnings per share. Zimmer Biomet's revenue was up 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. Zimmer Biomet's dividend payout ratio is presently 20.78%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research report on Friday, May 17th. Truist Financial reduced their price target on shares of Zimmer Biomet from $137.00 to $130.00 and set a "hold" rating on the stock in a research report on Friday, May 3rd. StockNews.com cut shares of Zimmer Biomet from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 19th. TheStreet raised shares of Zimmer Biomet from a "c" rating to a "b-" rating in a research report on Thursday, February 8th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $134.40.

Zimmer Biomet Company 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.