Axa S.A. Acquires 184,129 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

AXA S.A. raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 263.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 253,958 shares of the medical equipment provider's stock after purchasing an additional 184,129 shares during the quarter. AXA S.A. owned approximately 0.12% of Zimmer Biomet worth $27,562,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A acquired a new stake in Zimmer Biomet in the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Zimmer Biomet in the fourth quarter worth approximately $30,000. Crewe Advisors LLC acquired a new stake in Zimmer Biomet in the first quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet during the second quarter valued at approximately $33,000. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $107.74 on Friday. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $133.90. The stock has a market capitalization of $22.17 billion, a P/E ratio of 23.32, a PEG ratio of 1.97 and a beta of 1.02. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The firm's 50 day moving average is $109.70 and its 200 day moving average is $115.00.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $1.82 earnings per share. The business's revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.01 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Zimmer Biomet's payout ratio is 20.78%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wolfe Research began coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They set a "peer perform" rating on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research report on Tuesday, September 17th. Morgan Stanley decreased their price objective on Zimmer Biomet from $130.00 to $120.00 and set an "equal weight" rating for the company in a report on Monday, July 15th. Truist Financial reaffirmed a "hold" rating and set a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Finally, Evercore ISI reissued an "in-line" rating and issued a $113.00 price target on shares of Zimmer Biomet in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $125.17.

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.