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

Principal Financial Group Inc. cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,523 shares of the medical equipment provider’s stock after selling 7,450 shares during the period. Principal Financial Group Inc. owned 0.12% of Zimmer Biomet worth $32,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZBH. Amplius Wealth Advisors LLC bought a new position in Zimmer Biomet during the fourth quarter valued at $26,000. Widmann Financial Services Inc. bought a new position in Zimmer Biomet during the fourth quarter valued at $28,000. FSB Premier Wealth Management Inc. bought a new position in Zimmer Biomet during the fourth quarter valued at $33,000. Paragon Capital Management Ltd bought a new position in Zimmer Biomet during the fourth quarter valued at $34,000. Finally, Benjamin Edwards Inc. bought a new position in Zimmer Biomet during the fourth quarter valued at $34,000. 90.34% of the stock is currently owned by institutional investors.

NYSE ZBH opened at $115.07 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.89 and a current ratio of 1.69. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 111.72, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. The company’s 50-day simple moving average is $123.40 and its two-hundred day simple moving average is $125.48. Zimmer Biomet Holdings, Inc. has a one year low of $108.47 and a one year high of $169.98.

Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.21. Zimmer Biomet had a net margin of 2.85% and a return on equity of 12.23%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the business earned $1.71 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 6.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Tuesday, March 29th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Monday, March 28th. Zimmer Biomet’s dividend payout ratio is currently 93.20%.

In other news, VP Chad F. Phipps sold 35,149 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $121.97, for a total value of $4,287,123.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by company insiders.

Several equities research analysts have recently weighed in on ZBH shares. StockNews.com downgraded shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America started coverage on shares of Zimmer Biomet in a research note on Tuesday, March 1st. They issued an “underperform” rating and a $120.00 target price on the stock. Stifel Nicolaus increased their target price on shares of Zimmer Biomet from $130.00 to $140.00 in a research note on Tuesday, May 3rd. The Goldman Sachs Group reduced their target price on shares of Zimmer Biomet from $179.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, March 21st. Finally, Royal Bank of Canada reduced their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 8th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $141.09.

Zimmer Biomet Profile (Get Rating)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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