AQR Capital Management LLC Buys 7,358 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

AQR Capital Management LLC raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 420,779 shares of the medical equipment provider’s stock after acquiring an additional 7,358 shares during the period. AQR Capital Management LLC’s holdings in Zimmer Biomet were worth $45,360,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after purchasing an additional 1,215,935 shares in the last quarter. American Century Companies Inc. boosted its position in Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares in the last quarter. Victory Capital Management Inc. grew its stake in Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after buying an additional 211,637 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Zimmer Biomet by 5.3% during the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after buying an additional 167,038 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after acquiring an additional 691,191 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $140.00 to $115.00 in a report on Monday, July 1st. Citigroup cut their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Evercore ISI reissued an “in-line” rating and set a $113.00 price objective on shares of Zimmer Biomet in a report on Thursday, September 5th. Canaccord Genuity Group dropped their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $125.17.

Zimmer Biomet Stock Performance

ZBH stock opened at $108.22 on Friday. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $133.90. The business’s 50-day moving average price is $109.65 and its two-hundred day moving average price is $114.86. The firm has a market cap of $22.26 billion, a PE ratio of 23.42, a P/E/G 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.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.01 earnings per share for the current year.

Zimmer Biomet Announces Dividend

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

Zimmer Biomet Company 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.