Q3 2024 Earnings Estimate for Zimmer Biomet Holdings, Inc. Issued By Zacks Research (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Investment analysts at Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for shares of Zimmer Biomet in a note issued to investors on Monday, April 22nd. Zacks Research analyst U. Biswas now expects that the medical equipment provider will post earnings of $1.86 per share for the quarter, up from their previous forecast 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.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Truist Financial upped their price target on Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a report on Friday, February 9th. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a report on Friday, February 23rd. Finally, Barclays upped their price target on Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $139.39.

Zimmer Biomet Price Performance

Shares of ZBH opened at $121.17 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39. The firm’s fifty day simple moving average is $126.18 and its 200-day simple moving average is $119.46. The firm has a market capitalization of $24.90 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 2.22 and a beta of 1.01. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $149.25.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 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 in the previous year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis.

Zimmer Biomet Announces Dividend

The business also recently declared 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. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 19.63%.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the sale, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Zimmer Biomet

Hedge funds have recently modified their holdings of the stock. Schechter Investment Advisors LLC lifted its holdings in Zimmer Biomet by 21.6% in the third quarter. Schechter Investment Advisors LLC now owns 4,241 shares of the medical equipment provider’s stock valued at $476,000 after acquiring an additional 752 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in Zimmer Biomet by 5.9% in the third quarter. Atria Wealth Solutions Inc. now owns 20,566 shares of the medical equipment provider’s stock valued at $2,312,000 after acquiring an additional 1,144 shares during the period. International Assets Investment Management LLC lifted its holdings in Zimmer Biomet by 11,244.9% in the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock valued at $8,146,000 after acquiring an additional 66,345 shares during the period. Amalgamated Bank lifted its holdings in Zimmer Biomet by 3.0% in the third quarter. Amalgamated Bank now owns 56,166 shares of the medical equipment provider’s stock valued at $6,303,000 after acquiring an additional 1,631 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Zimmer Biomet by 37.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock valued at $18,981,000 after acquiring an additional 42,539 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

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.