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) – Stock analysts at Roth Capital upped their Q3 2024 earnings per share (EPS) estimates for Zimmer Biomet in a report issued on Friday, May 3rd. Roth Capital analyst J. Wittes now expects that the medical equipment provider will earn $1.96 per share for the quarter, up from their previous forecast 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.

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

ZBH has been the topic of a number of other reports. Oppenheimer lifted their target price on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Citigroup upped their target price on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Evercore ISI raised their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 2nd. Finally, TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $135.40.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $121.43 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The firm’s fifty day moving average price is $125.07 and its 200 day moving average price is $120.44. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $147.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Zimmer Biomet in the 4th quarter valued at about $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 position in shares of Zimmer Biomet by 410.4% during the 4th 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 shares of Zimmer Biomet in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Transactions at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction dated 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 approximately $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Zimmer Biomet Announces Dividend

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