Zacks Research Analysts Lift Earnings Estimates for Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) – Equities researchers at Zacks Research boosted their FY2023 earnings estimates for shares of Zimmer Biomet in a research report issued on Monday, May 22nd. Zacks Research analyst U. Biswas now expects that the medical equipment provider will earn $7.41 per share for the year, up from their prior estimate of $7.40. The consensus estimate for Zimmer Biomet’s current full-year earnings is $7.45 per share. Zacks Research also issued estimates for Zimmer Biomet’s Q4 2023 earnings at $2.05 EPS, Q1 2024 earnings at $1.92 EPS, Q2 2024 earnings at $1.87 EPS, Q3 2024 earnings at $1.85 EPS, Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $7.63 EPS, Q1 2025 earnings at $2.16 EPS and FY2025 earnings at $8.38 EPS.

Several other research analysts have also recently commented on the stock. Piper Sandler upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $135.00 to $145.00 in a research report on Thursday, March 9th. 22nd Century Group restated a “maintains” rating on shares of Zimmer Biomet in a research report on Thursday, May 18th. Raymond James upped their target price on shares of Zimmer Biomet from $144.00 to $160.00 in a research report on Wednesday, May 3rd. Robert W. Baird upped their target price on shares of Zimmer Biomet from $145.00 to $172.00 in a research report on Wednesday, May 3rd. Finally, Loop Capital increased their price objective on shares of Zimmer Biomet from $125.00 to $140.00 in a report on Monday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $143.67.

Zimmer Biomet Price Performance

NYSE ZBH opened at $127.80 on Thursday. Zimmer Biomet has a 52 week low of $100.39 and a 52 week high of $149.25. The company has a current ratio of 1.89, a quick ratio of 0.93 and a debt-to-equity ratio of 0.43. The stock has a market cap of $26.66 billion, a price-to-earnings ratio of 59.72, a price-to-earnings-growth ratio of 2.38 and a beta of 1.00. The company has a 50-day moving average price of $132.84 and a two-hundred day moving average price of $126.66.

Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The medical equipment provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.25. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.70 billion. Zimmer Biomet had a net margin of 6.33% and a return on equity of 12.43%. Zimmer Biomet’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, June 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 23rd. This represents a $0.96 annualized dividend and a dividend yield of 0.75%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 44.86%.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 23,045 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $124.50, for a total value of $2,869,102.50. Following the completion of the sale, the vice president now owns 43,671 shares in the company, valued at approximately $5,437,039.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZBH. Vanguard Group Inc. lifted its position in Zimmer Biomet by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after buying an additional 3,695,510 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Zimmer Biomet by 92,041.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,841,898 shares of the medical equipment provider’s stock worth $234,842,000 after purchasing an additional 1,839,899 shares during the last quarter. Norges Bank acquired a new position in shares of Zimmer Biomet during the 4th quarter worth $231,471,000. Price T Rowe Associates Inc. MD increased its stake in shares of Zimmer Biomet by 18.1% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 10,549,223 shares of the medical equipment provider’s stock worth $1,102,922,000 after purchasing an additional 1,619,881 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Zimmer Biomet by 111.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,941,983 shares of the medical equipment provider’s stock worth $380,104,000 after purchasing an additional 1,548,020 shares during the last quarter. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.