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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Analysts at Zacks Research boosted their Q3 2024 earnings estimates for Zimmer Biomet in a research note issued on Monday, April 22nd. Zacks Research analyst U. Biswas now forecasts 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.

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

Several other equities research analysts have also issued reports on the stock. Truist Financial lifted their target price on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 9th. Raymond James boosted their price objective 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. StockNews.com lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Finally, Evercore ISI boosted their price objective 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 research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.39.

Zimmer Biomet Trading Down 0.3 %

Shares of Zimmer Biomet stock opened at $121.17 on Tuesday. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $149.25. The firm has a market cap of $24.90 billion, a PE 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 current ratio of 1.61 and a quick ratio of 0.78. The company has a 50 day simple moving average of $126.18 and a two-hundred day simple moving average of $119.46.

Institutional Trading of Zimmer Biomet

Hedge funds have recently modified their holdings of the business. Schechter Investment Advisors LLC boosted its holdings in shares of Zimmer Biomet by 21.6% during the 3rd quarter. Schechter Investment Advisors LLC now owns 4,241 shares of the medical equipment provider’s stock valued at $476,000 after buying an additional 752 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of Zimmer Biomet by 5.9% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 20,566 shares of the medical equipment provider’s stock valued at $2,312,000 after buying an additional 1,144 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Zimmer Biomet by 11,244.9% during the 4th quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock valued at $8,146,000 after buying an additional 66,345 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Zimmer Biomet by 3.0% during the 3rd quarter. Amalgamated Bank now owns 56,166 shares of the medical equipment provider’s stock valued at $6,303,000 after buying an additional 1,631 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Zimmer Biomet by 37.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock worth $18,981,000 after purchasing an additional 42,539 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the business’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 transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 given 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 is Wednesday, March 27th. Zimmer Biomet’s payout ratio is currently 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.