Zacks Research Comments on Zimmer Biomet Holdings, Inc.’s Q3 2024 Earnings (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Research analysts at Zacks Research cut their Q3 2024 EPS estimates for shares of Zimmer Biomet in a note issued to investors on Wednesday, August 28th. Zacks Research analyst U. Biswas now anticipates that the medical equipment provider will post earnings of $1.80 per share for the quarter, down from their prior forecast of $1.88. The consensus estimate for Zimmer Biomet’s current full-year earnings is $8.06 per share. Zacks Research also issued estimates for Zimmer Biomet’s Q4 2024 earnings at $2.27 EPS, FY2024 earnings at $8.01 EPS, Q3 2025 earnings at $2.14 EPS, FY2025 earnings at $8.59 EPS and Q2 2026 earnings at $2.35 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. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm earned $1.82 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year.

A number of other brokerages have also recently commented on ZBH. Raymond James dropped their price target on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Morgan Stanley cut their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Citigroup lowered their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Robert W. Baird cut their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $126.41.

Zimmer Biomet Stock Up 0.7 %

Shares of NYSE ZBH opened at $115.46 on Monday. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.06 and a beta of 1.01. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $133.90. The stock has a 50-day moving average price of $109.90 and a two-hundred day moving average price of $117.24.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its position in Zimmer Biomet by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after buying an additional 92 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Zimmer Biomet by 16.6% in the first quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 95 shares during the last quarter. First Bancorp Inc ME lifted its position in shares of Zimmer Biomet by 5.3% during the first quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after purchasing an additional 100 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Zimmer Biomet by 2.6% during the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 100 shares during the last quarter. Finally, Romano Brothers AND Company increased its stake in Zimmer Biomet by 1.1% in the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after buying an additional 100 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Monday, September 30th. 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.