Q1 2024 EPS Estimates for Zimmer Biomet Holdings, Inc. Raised by Zacks Research (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Equities research analysts at Zacks Research lifted their Q1 2024 EPS estimates for Zimmer Biomet in a report released on Monday, April 22nd. Zacks Research analyst U. Biswas now anticipates that the medical equipment provider will earn $1.88 per share for the quarter, up from their prior estimate of $1.86. 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 Q1 2026 earnings at $2.26 EPS.

Several other equities analysts have also recently commented on ZBH. JPMorgan Chase & Co. lifted their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. StockNews.com lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. Truist Financial lifted their price objective on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Citigroup lifted their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $139.39.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $121.17 on Wednesday. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $149.25. The stock has a market cap of $24.90 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 2.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. The firm’s 50-day simple moving average is $126.18 and its 200 day simple moving average is $119.46.

Zimmer Biomet (NYSE:ZBH) last issued its 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 during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the business posted $1.88 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year.

Zimmer Biomet Announces Dividend

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

Insider Activity

In other news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction dated 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 directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently modified their holdings of ZBH. OLD Point Trust & Financial Services N A purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $30,000. Naples Money Management LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $35,000. Activest Wealth Management lifted its position in Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 275 shares during the period. Finally, Peoples Bank KS bought a new position in Zimmer Biomet during the third quarter valued at approximately $48,000. 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.