Q1 2024 Earnings Estimate for Zimmer Biomet Holdings, Inc. Issued By Zacks Research (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Zacks Research raised their Q1 2024 earnings per share (EPS) estimates for shares of Zimmer Biomet in a research report issued to clients and investors on Monday, April 22nd. Zacks Research analyst U. Biswas now anticipates that the medical equipment provider will earn $1.88 per share for the quarter, up from their prior forecast of $1.86. The consensus estimate for Zimmer Biomet’s current full-year earnings is $8.07 per share. Zacks Research also issued estimates for Zimmer Biomet’s Q1 2026 earnings at $2.26 EPS.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.15 by $0.05. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group restated a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a research note on Friday, February 23rd. Citigroup increased their price target on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Evercore ISI increased their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Finally, Raymond James increased their target price on Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $139.39.

Zimmer Biomet Trading Down 1.2 %

NYSE ZBH opened at $119.75 on Wednesday. The company has a market cap of $24.60 billion, a PE ratio of 24.49, a PEG ratio of 2.23 and a beta of 1.01. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $149.25. The stock has a 50 day moving average of $126.09 and a 200-day moving average of $119.46.

Institutional Investors Weigh In On Zimmer Biomet

Institutional investors have recently bought and sold shares of the stock. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet during the 4th quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Zimmer Biomet in the 4th quarter worth approximately $30,000. Naples Money Management LLC purchased a new stake in Zimmer Biomet in the 4th quarter worth approximately $35,000. Activest Wealth Management lifted its holdings in Zimmer Biomet by 410.4% in 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 during the period. Finally, Peoples Bank KS purchased a new stake in Zimmer Biomet in the 3rd quarter worth approximately $48,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. Zimmer Biomet’s dividend payout ratio is currently 19.63%.

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.