Principal Financial Group Inc. Buys 1,596 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Principal Financial Group Inc. lifted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 226,613 shares of the medical equipment provider’s stock after buying an additional 1,596 shares during the quarter. Principal Financial Group Inc.’s holdings in Zimmer Biomet were worth $25,648,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ZBH. Garde Capital Inc. bought a new position in shares of Zimmer Biomet in the first quarter worth about $29,000. Menard Financial Group LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at about $30,000. Washington Trust Advisors Inc. purchased a new position in Zimmer Biomet during the 1st quarter worth approximately $30,000. Accredited Wealth Management LLC acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth approximately $36,000. Finally, OFI Invest Asset Management acquired a new stake in Zimmer Biomet in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZBH. The Goldman Sachs Group lowered their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company cut their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Evercore ISI decreased their price objective on Zimmer Biomet from $102.00 to $96.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, Royal Bank Of Canada decreased their price target on Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $110.56.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $93.46 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $93.67 and its two-hundred day moving average price is $101.57. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 2.14 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 earnings per share. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.03%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.24%.

Insiders Place Their Bets

In other news, insider Sang Yi sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

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.