Principal Financial Group Inc. Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Principal Financial Group Inc. lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.2% in the third quarter, HoldingsChannel reports. The firm owned 234,345 shares of the medical equipment provider’s stock after selling 26,515 shares during the quarter. Principal Financial Group Inc.’s holdings in Zimmer Biomet were worth $25,298,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ZBH. Graypoint LLC grew its stake in Zimmer Biomet by 6.6% in the 3rd quarter. Graypoint LLC now owns 4,829 shares of the medical equipment provider’s stock worth $521,000 after acquiring an additional 299 shares during the period. M&G PLC grew its holdings in shares of Zimmer Biomet by 26.8% during the 3rd quarter. M&G PLC now owns 100,536 shares of the medical equipment provider’s stock worth $10,858,000 after purchasing an additional 21,251 shares during the period. HMS Capital Management LLC grew its stake in Zimmer Biomet by 12.0% during the third quarter. HMS Capital Management LLC now owns 6,549 shares of the medical equipment provider’s stock worth $707,000 after buying an additional 702 shares during the period. Heritage Investors Management Corp boosted its position in Zimmer Biomet by 4.3% during the 3rd quarter. Heritage Investors Management Corp now owns 154,936 shares of the medical equipment provider’s stock worth $16,725,000 after purchasing an additional 6,349 shares during the period. Finally, Sentry Investment Management LLC boosted its position in shares of Zimmer Biomet by 85.1% in the third quarter. Sentry Investment Management LLC now owns 1,020 shares of the medical equipment provider’s stock worth $110,000 after buying an additional 469 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Trading Up 0.4 %

Shares of Zimmer Biomet stock opened at $109.95 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company has a market cap of $21.89 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.99 and a beta of 1.02. The company’s fifty day simple moving average is $106.26 and its 200-day simple moving average is $110.25. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s dividend payout ratio is 18.25%.

Analyst Upgrades and Downgrades

ZBH has been the topic of several recent analyst reports. Evercore ISI cut their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company boosted their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Wolfe Research started coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group lowered their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Finally, Truist Financial lifted their price objective on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $124.11.

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.