Q3 2024 EPS Estimates for Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Reduced by Zacks Research

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Investment analysts at Zacks Research reduced their Q3 2024 earnings per share estimates for Zimmer Biomet in a report released on Monday, September 23rd. Zacks Research analyst U. Biswas now anticipates that the medical equipment provider will earn $1.77 per share for the quarter, down from their prior estimate of $1.80. The consensus estimate for Zimmer Biomet’s current full-year earnings is $8.01 per share. Zacks Research also issued estimates for Zimmer Biomet’s Q4 2024 earnings at $2.26 EPS, FY2024 earnings at $7.99 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.11 EPS, FY2025 earnings at $8.55 EPS and FY2026 earnings at $9.25 EPS.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS.

ZBH has been the subject of a number of other reports. TD Cowen decreased their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Oppenheimer lowered their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reduced their price objective on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. UBS Group decreased their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Finally, Evercore ISI reissued an “in-line” rating and set a $113.00 target price on shares of Zimmer Biomet in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $125.17.

Zimmer Biomet Price Performance

ZBH opened at $107.74 on Wednesday. The company has a market capitalization of $22.17 billion, a P/E ratio of 23.33, a PEG ratio of 1.97 and a beta of 1.02. The company has a 50-day moving average of $109.77 and a 200-day moving average of $115.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $133.90.

Hedge Funds Weigh In On Zimmer Biomet

Several large investors have recently bought and sold shares of the stock. OLD Point Trust & Financial Services N A bought a new position in shares of Zimmer Biomet in the fourth quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Zimmer Biomet during the 4th quarter valued at $30,000. Crewe Advisors LLC bought a new stake in shares of Zimmer Biomet in the 1st quarter worth $31,000. Family Firm Inc. acquired a new stake in shares of Zimmer Biomet in the second quarter valued at $33,000. Finally, J.Safra Asset Management Corp boosted its stake in Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. 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.