Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Forecasted to Post Q3 2024 Earnings of $1.77 Per Share

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) - Equities researchers at Zacks Research dropped their Q3 2024 earnings per share estimates for Zimmer Biomet in a research note issued on Monday, September 23rd. Zacks Research analyst U. Biswas now forecasts that the medical equipment provider will post earnings per share of $1.77 for the quarter, down from their previous estimate of $1.80. The consensus estimate for Zimmer Biomet's current full-year earnings is $8.01 per share. Zacks Research also issued estimates for Zimmer Biomet's Q4 2024 earnings at $2.26 EPS, FY2024 earnings at $7.99 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.11 EPS, FY2025 earnings at $8.55 EPS and FY2026 earnings at $9.25 EPS.

A number of other research firms have also recently weighed in on ZBH. Barclays lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an "underweight" rating for the company in a research report on Friday, May 31st. Royal Bank of Canada cut their price objective on Zimmer Biomet from $140.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group reduced their price objective on Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating on the stock in a research note on Tuesday, September 10th. Piper Sandler downgraded Zimmer Biomet from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $140.00 to $115.00 in a report on Monday, July 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and a consensus price target of $125.17.

Zimmer Biomet Trading Down 1.2 %

ZBH stock traded down $1.31 during mid-day trading on Wednesday, hitting $106.50. 1,240,885 shares of the company were exchanged, compared to its average volume of 1,501,333. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $133.90. The firm has a market capitalization of $21.69 billion, a P/E ratio of 23.06, a PEG ratio of 1.97 and a beta of 1.02. The business has a fifty day simple moving average of $109.86 and a 200-day simple moving average of $115.11. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share.

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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.90%. Zimmer Biomet's dividend payout ratio (DPR) is 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

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

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.