Zimmer Biomet Holdings, Inc. (NYSE:ZBH) to Post Q3 2024 Earnings of $1.96 Per Share, Roth Capital Forecasts

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Roth Capital lifted their Q3 2024 earnings per share estimates for shares of Zimmer Biomet in a research report issued 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.

A number of other equities research analysts have also commented on the company. Canaccord Genuity Group restated a “hold” rating and set a $130.00 price target on shares of Zimmer Biomet in a research report on Friday, February 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 9th. JPMorgan Chase & Co. upped 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. Finally, StockNews.com lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and a consensus price target of $135.40.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $121.66 on Monday. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 2.23 and a beta of 1.03. The firm’s 50-day moving average price is $125.30 and its two-hundred day moving average price is $120.21. The company has a current ratio of 1.66, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $147.50.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors have recently modified their holdings of the business. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $30,000. Naples Money Management LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter worth about $35,000. Activest Wealth Management grew its holdings in shares of Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 275 shares in the last quarter. Finally, Peoples Bank KS acquired a new stake in Zimmer Biomet in the 3rd quarter valued at approximately $48,000. Institutional investors own 88.89% of the company’s stock.

Insider Activity

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now directly owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.95% of the stock is currently owned by company insiders.

Zimmer Biomet Announces Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. Zimmer Biomet’s payout ratio is currently 20.78%.

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.