Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 2.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 253,523 shares of the medical equipment provider’s stock after selling 7,450 shares during the quarter. Principal Financial Group Inc.’s holdings in Zimmer Biomet were worth $32,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Donaldson Capital Management LLC increased its stake in Zimmer Biomet by 5.2% during the fourth quarter. Donaldson Capital Management LLC now owns 1,655 shares of the medical equipment provider’s stock worth $210,000 after purchasing an additional 82 shares during the period. Centaurus Financial Inc. increased its stake in Zimmer Biomet by 4.0% during the third quarter. Centaurus Financial Inc. now owns 2,251 shares of the medical equipment provider’s stock worth $329,000 after purchasing an additional 87 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Zimmer Biomet by 4.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,928 shares of the medical equipment provider’s stock worth $282,000 after purchasing an additional 90 shares during the period. Forsta AP Fonden increased its stake in Zimmer Biomet by 0.3% during the third quarter. Forsta AP Fonden now owns 39,000 shares of the medical equipment provider’s stock worth $5,708,000 after purchasing an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Zimmer Biomet by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the medical equipment provider’s stock worth $1,664,000 after purchasing an additional 100 shares during the period. 90.34% of the stock is currently owned by institutional investors.

In related 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is owned by company insiders.

NYSE:ZBH opened at $115.07 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $108.47 and a 12-month high of $169.98. The company has a current ratio of 1.69, a quick ratio of 0.89 and a debt-to-equity ratio of 0.44. The stock’s 50 day simple moving average is $123.40 and its 200-day simple moving average is $125.48. The firm has a market cap of $24.12 billion, a P/E ratio of 111.72, a PEG ratio of 2.76 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBHGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.21. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Zimmer Biomet had a net margin of 2.85% and a return on equity of 12.23%. Zimmer Biomet’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 6.72 EPS for the current fiscal year.

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

ZBH has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating and set a $133.00 price target on the stock in a research note on Wednesday, April 13th. Citigroup downgraded Zimmer Biomet from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $125.15 to $135.00 in a research report on Friday, April 1st. Piper Sandler lowered their price objective on Zimmer Biomet from $135.00 to $110.00 in a research report on Monday, February 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on Zimmer Biomet from $140.00 to $121.00 and set a “hold” rating for the company in a research report on Tuesday, February 8th. Finally, Wells Fargo & Company lowered their price objective on Zimmer Biomet from $124.00 to $111.00 and set an “underweight” rating for the company in a research report on Tuesday, February 8th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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