Q3 2024 EPS Estimates for Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Lifted by Analyst

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Analysts at Zacks Research upped their Q3 2024 earnings estimates for Zimmer Biomet in a report issued on Monday, April 22nd. Zacks Research analyst U. Biswas now forecasts that the medical equipment provider will post earnings per share of $1.86 for the quarter, up from their prior estimate of $1.85. The consensus estimate for Zimmer Biomet’s current full-year earnings is $8.07 per share. Zacks Research also issued estimates for Zimmer Biomet’s FY2024 earnings at $8.05 EPS, Q1 2025 earnings at $2.10 EPS, Q2 2025 earnings at $2.17 EPS, Q3 2025 earnings at $2.17 EPS, Q4 2025 earnings at $2.23 EPS, FY2025 earnings at $8.67 EPS and FY2026 earnings at $9.23 EPS.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the business posted $1.88 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis.

A number of other equities research analysts have also recently issued reports on the stock. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Canaccord Genuity Group reiterated a “hold” rating and set a $130.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 23rd. Raymond James raised their target price on Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Citigroup lifted their target price on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, Evercore ISI increased their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $139.39.

Zimmer Biomet Price Performance

NYSE ZBH opened at $120.78 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. The company has a market cap of $24.82 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $149.25. The firm’s 50-day simple moving average is $126.23 and its two-hundred day simple moving average is $119.37.

Institutional Investors Weigh In On Zimmer Biomet

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its holdings in Zimmer Biomet by 1.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 37,177 shares of the medical equipment provider’s stock valued at $4,907,000 after purchasing an additional 625 shares during the period. Rovin Capital UT ADV increased its stake in shares of Zimmer Biomet by 18.4% during the first quarter. Rovin Capital UT ADV now owns 4,752 shares of the medical equipment provider’s stock valued at $627,000 after buying an additional 737 shares during the period. CKW Financial Group lifted its stake in Zimmer Biomet by 180.3% in the first quarter. CKW Financial Group now owns 855 shares of the medical equipment provider’s stock worth $111,000 after acquiring an additional 550 shares during the period. Lakewood Asset Management LLC boosted its holdings in Zimmer Biomet by 31.9% in the first quarter. Lakewood Asset Management LLC now owns 3,216 shares of the medical equipment provider’s stock valued at $424,000 after acquiring an additional 777 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in Zimmer Biomet by 3.8% in the first quarter. Ashton Thomas Private Wealth LLC now owns 5,514 shares of the medical equipment provider’s stock valued at $728,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Insider Buying and Selling

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet’s dividend payout ratio is 19.63%.

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.