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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Zimmer Biomet in a note issued to investors 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 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.

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

ZBH has been the topic of several other research reports. JPMorgan Chase & Co. increased their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Evercore ISI increased their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Canaccord Genuity Group reissued a “hold” rating and issued a $130.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 23rd. Finally, Citigroup increased their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. One 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.39.

Zimmer Biomet Trading Up 0.6 %

Shares of ZBH stock opened at $121.52 on Tuesday. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $149.25. 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 business’s 50 day moving average is $126.19 and its two-hundred day moving average is $119.44. The company has a market cap of $24.97 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ZBH. Vontobel Holding Ltd. lifted its holdings in shares of Zimmer Biomet by 4.5% during the third quarter. Vontobel Holding Ltd. now owns 8,540 shares of the medical equipment provider’s stock valued at $958,000 after acquiring an additional 366 shares during the period. IFP Advisors Inc increased its stake in shares of Zimmer Biomet by 20.4% in the third quarter. IFP Advisors Inc now owns 2,763 shares of the medical equipment provider’s stock valued at $310,000 after buying an additional 469 shares in the last quarter. PFG Advisors increased its stake in shares of Zimmer Biomet by 7.5% in the third quarter. PFG Advisors now owns 1,815 shares of the medical equipment provider’s stock valued at $204,000 after buying an additional 126 shares in the last quarter. Ziegler Capital Management LLC increased its stake in shares of Zimmer Biomet by 10.2% in the third quarter. Ziegler Capital Management LLC now owns 30,915 shares of the medical equipment provider’s stock valued at $3,469,000 after buying an additional 2,852 shares in the last quarter. Finally, Montecito Bank & Trust increased its position in Zimmer Biomet by 4.6% in the third quarter. Montecito Bank & Trust now owns 2,272 shares of the medical equipment provider’s stock worth $255,000 after purchasing an additional 100 shares during the period. 88.89% of the stock is owned by institutional investors.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 payout ratio is presently 19.63%.

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.