PNC Financial Services Group Inc. decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379,606 shares of the medical equipment provider’s stock after selling 8,831 shares during the quarter. PNC Financial Services Group Inc. owned about 0.19% of Zimmer Biomet Holdings worth $48,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. raised its holdings in Zimmer Biomet Holdings by 4.1% during the 2nd quarter. BlackRock Inc. now owns 17,419,463 shares of the medical equipment provider’s stock valued at $2,236,657,000 after acquiring an additional 679,080 shares during the period. Vanguard Group Inc. raised its holdings in Zimmer Biomet Holdings by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 13,041,411 shares of the medical equipment provider’s stock valued at $1,592,488,000 after acquiring an additional 464,916 shares during the period. State Street Corp raised its holdings in Zimmer Biomet Holdings by 2.4% during the 1st quarter. State Street Corp now owns 8,193,165 shares of the medical equipment provider’s stock valued at $1,000,463,000 after acquiring an additional 191,747 shares during the period. Longview Partners Guernsey LTD raised its holdings in Zimmer Biomet Holdings by 4.4% during the 2nd quarter. Longview Partners Guernsey LTD now owns 6,377,711 shares of the medical equipment provider’s stock valued at $818,898,000 after acquiring an additional 269,184 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Zimmer Biomet Holdings by 25.0% during the 1st quarter. Nordea Investment Management AB now owns 4,931,281 shares of the medical equipment provider’s stock valued at $602,159,000 after acquiring an additional 987,398 shares during the period. 85.35% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages have issued reports on ZBH. Gabelli began coverage on shares of Zimmer Biomet Holdings in a report on Thursday, August 24th. They set a “buy” rating and a $142.00 target price on the stock. Oppenheimer Holdings, Inc. set a $137.00 target price on shares of Zimmer Biomet Holdings and gave the company a “buy” rating in a report on Monday, August 14th. Zacks Investment Research cut shares of Zimmer Biomet Holdings from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, BMO Capital Markets boosted their target price on shares of Zimmer Biomet Holdings from $136.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $136.75.

Zimmer Biomet Holdings, Inc. (ZBH) traded up 0.238% on Monday, reaching $115.745. The company had a trading volume of 23,714 shares. Zimmer Biomet Holdings, Inc. has a 12-month low of $95.63 and a 12-month high of $133.49. The stock has a market capitalization of $23.40 billion, a PE ratio of 32.966 and a beta of 1.21. The stock’s 50 day moving average price is $114.88 and its 200-day moving average price is $120.74.

Zimmer Biomet Holdings (NYSE:ZBH) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.02). Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the firm earned $2.02 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post $8.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 22nd will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.96 annualized dividend and a yield of 0.83%. Zimmer Biomet Holdings’s payout ratio is 27.59%.

In related news, VP Tony W. Collins sold 16,986 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $121.74, for a total transaction of $2,067,875.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.07% of the company’s stock.

Zimmer Biomet Holdings Profile

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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Institutional Ownership by Quarter for Zimmer Biomet Holdings (NYSE:ZBH)

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