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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Investment analysts at Zacks Research boosted their Q3 2024 earnings estimates for shares of Zimmer Biomet in a research report issued to clients and 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 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 quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS.

Several other equities research analysts also recently weighed in on ZBH. Barclays upped their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Monday, February 12th. Raymond James boosted their price target on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their price target on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Truist Financial boosted their price target on shares of Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Finally, TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. 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 stock. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $139.39.

Zimmer Biomet Price Performance

Shares of ZBH opened at $121.52 on Tuesday. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $149.25. The firm’s 50 day moving average price is $126.19 and its 200 day moving average price is $119.44. The company has a market cap of $24.97 billion, a P/E ratio of 24.85, a PEG ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39.

Zimmer Biomet Announces Dividend

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

Insider Buying and Selling

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zimmer Biomet

A number of large investors have recently bought and sold shares of the company. Vontobel Holding Ltd. increased its holdings in shares of Zimmer Biomet by 4.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 8,540 shares of the medical equipment provider’s stock valued at $958,000 after purchasing an additional 366 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Zimmer Biomet by 20.4% in the 3rd quarter. IFP Advisors Inc now owns 2,763 shares of the medical equipment provider’s stock valued at $310,000 after purchasing an additional 469 shares in the last quarter. PFG Advisors increased its holdings in shares of Zimmer Biomet by 7.5% in the 3rd quarter. PFG Advisors now owns 1,815 shares of the medical equipment provider’s stock valued at $204,000 after purchasing an additional 126 shares in the last quarter. Ziegler Capital Management LLC increased its holdings in shares of Zimmer Biomet by 10.2% in the 3rd quarter. Ziegler Capital Management LLC now owns 30,915 shares of the medical equipment provider’s stock valued at $3,469,000 after purchasing an additional 2,852 shares in the last quarter. Finally, Montecito Bank & Trust increased its holdings in shares of Zimmer Biomet by 4.6% in the 3rd quarter. Montecito Bank & Trust now owns 2,272 shares of the medical equipment provider’s stock valued at $255,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

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.