Roth Capital Decreases Earnings Estimates for Zimmer Biomet

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) - Roth Capital reduced their FY2024 earnings per share (EPS) estimates for shares of Zimmer Biomet in a note issued to investors on Thursday, October 31st. Roth Capital analyst J. Wittes now anticipates that the medical equipment provider will post earnings of $8.01 per share for the year, down from their previous forecast of $8.14. The consensus estimate for Zimmer Biomet's current full-year earnings is $7.99 per share.

ZBH has been the subject of a number of other research reports. Raymond James lowered their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating for the company in a report on Monday, October 14th. Truist Financial upped their price target on Zimmer Biomet from $112.00 to $117.00 and gave the company a "hold" rating in a research note on Friday. UBS Group lowered their price objective on Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating for the company in a research report on Thursday, August 8th. 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, JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $124.11.

Zimmer Biomet Price Performance

NYSE:ZBH traded up $1.14 during mid-day trading on Monday, reaching $108.41. 1,425,369 shares of the company were exchanged, compared to its average volume of 1,491,139. Zimmer Biomet has a 12 month low of $101.47 and a 12 month high of $133.90. The stock has a market cap of $21.58 billion, a PE ratio of 20.61, a PEG ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $106.83 and a 200 day moving average of $110.66.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting analysts' consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The business's revenue was up 4.1% on a year-over-year basis.

Hedge Funds Weigh In On Zimmer Biomet

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider's stock valued at $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider's stock valued at $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider's stock worth $391,239,000 after purchasing an additional 411,163 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider's stock worth $365,163,000 after purchasing an additional 211,637 shares during the last quarter. Finally, Boston Partners grew its position in Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider's stock valued at $437,413,000 after purchasing an additional 691,191 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.89%. Zimmer Biomet's dividend payout ratio is currently 18.25%.

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.