Equities Analysts Set Expectations for Zimmer Biomet Holdings, Inc.’s Q3 2024 Earnings (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Investment analysts at Zacks Research reduced their Q3 2024 earnings per share estimates for shares of Zimmer Biomet in a research note issued on Monday, September 23rd. Zacks Research analyst U. Biswas now anticipates 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.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $1.82 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis.

A number of other research firms have also commented on ZBH. Citigroup reduced their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Robert W. Baird decreased their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. TD Cowen dropped their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Oppenheimer dropped their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Trading Up 0.3 %

NYSE:ZBH opened at $107.85 on Wednesday. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90. The stock has a market cap of $21.96 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 1.97 and a beta of 1.02. The company’s 50 day moving average price is $109.86 and its 200-day moving average price is $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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZBH. OLD Point Trust & Financial Services N A bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at $30,000. Crewe Advisors LLC bought a new position in Zimmer Biomet during the 1st quarter valued at about $31,000. Family Firm Inc. purchased a new position in Zimmer Biomet during the 2nd quarter valued at $33,000. Finally, J.Safra Asset Management Corp increased its position in shares of Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 235 shares during the period. Institutional investors own 88.89% of the company’s stock.

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.