Analysts Set Expectations for Zimmer Biomet Holdings, Inc.’s Q3 2024 Earnings (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Equities researchers at Roth Capital boosted their Q3 2024 earnings per share estimates for Zimmer Biomet in a research report issued to clients and investors on Friday, May 3rd. Roth Capital analyst J. Wittes now forecasts that the medical equipment provider will earn $1.96 per share for the quarter, up from their prior estimate of $1.90. The consensus estimate for Zimmer Biomet’s current full-year earnings is $8.10 per share. Roth Capital also issued estimates for Zimmer Biomet’s Q4 2024 earnings at $2.31 EPS, FY2024 earnings at $8.15 EPS, FY2025 earnings at $8.87 EPS and FY2026 earnings at $9.33 EPS.

Several other brokerages have also recently weighed in on ZBH. Citigroup boosted their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Canaccord Genuity Group reissued a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 2nd. StockNews.com lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. Finally, Oppenheimer increased their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and an average target price of $135.40.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH opened at $121.43 on Monday. The firm has a fifty day simple moving average of $125.07 and a two-hundred day simple moving average of $120.44. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $24.98 billion, a P/E ratio of 26.28, a PEG ratio of 2.23 and a beta of 1.03. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $147.50.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. Zimmer Biomet’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new position in Zimmer Biomet in the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Zimmer Biomet during the 4th quarter worth $30,000. Naples Money Management LLC acquired a new position in Zimmer Biomet during the 4th quarter valued at about $35,000. Activest Wealth Management raised its stake in Zimmer Biomet by 410.4% in the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 275 shares during the last quarter. Finally, Peoples Bank KS acquired a new stake in Zimmer Biomet in the third quarter worth about $48,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Insider Buying and Selling

In other 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 value of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s payout ratio is 20.78%.

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.