Principal Financial Group Inc. Sells 9,328 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Principal Financial Group Inc. trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 225,017 shares of the medical equipment provider’s stock after selling 9,328 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Zimmer Biomet worth $23,769,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. CKW Financial Group raised its holdings in Zimmer Biomet by 11.7% during the 4th quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock worth $101,000 after purchasing an additional 100 shares during the last quarter. FWG Holdings LLC raised its holdings in Zimmer Biomet by 2.9% during the 3rd quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock worth $372,000 after purchasing an additional 101 shares during the last quarter. Romano Brothers AND Company grew its position in shares of Zimmer Biomet by 1.1% during the 4th quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock worth $1,000,000 after buying an additional 102 shares during the period. Financial Advocates Investment Management grew its position in shares of Zimmer Biomet by 3.5% during the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after buying an additional 103 shares during the period. Finally, Modera Wealth Management LLC grew its position in shares of Zimmer Biomet by 1.6% during the 3rd quarter. Modera Wealth Management LLC now owns 7,496 shares of the medical equipment provider’s stock worth $809,000 after buying an additional 120 shares during the period. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $104.89 on Monday. The firm has a market cap of $20.88 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.95 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The stock’s fifty day moving average price is $105.86 and its two-hundred day moving average price is $107.46.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period last year, the firm earned $2.20 EPS. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, December 30th. Zimmer Biomet’s payout ratio is 21.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ZBH shares. JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 7th. Wells Fargo & Company boosted their target price on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Barclays decreased their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $124.15.

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.