Q1 2024 EPS Estimates for Zimmer Biomet Holdings, Inc. Raised by Zacks Research (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Equities research analysts at Zacks Research upped their Q1 2024 earnings per share 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 post earnings of $1.88 per share for the quarter, up from their previous 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 posted its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.05. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations 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 was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share.

A number of other equities research analysts have also recently weighed in on ZBH. StockNews.com cut Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a report on Friday, February 9th. Barclays increased their price target on Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $130.00 price target on shares of Zimmer Biomet in a report on Friday, February 23rd. Finally, Truist Financial increased their price objective on Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. One investment 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 MarketBeat, the company has a consensus rating of “Hold” and an average target price of $139.39.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $121.17 on Wednesday. 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 twelve month low of $102.00 and a twelve month high of $149.25. The stock has a 50 day moving average of $126.18 and a two-hundred day moving average of $119.46. The stock has a market cap of $24.90 billion, a P/E ratio of 24.78, a P/E/G ratio of 2.22 and a beta of 1.01.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC boosted its position in Zimmer Biomet by 18.8% during the 1st quarter. V Square Quantitative Management LLC now owns 5,256 shares of the medical equipment provider’s stock valued at $694,000 after purchasing an additional 833 shares during the period. Premier Path Wealth Partners LLC boosted its position in Zimmer Biomet by 15.4% during the 1st quarter. Premier Path Wealth Partners LLC now owns 10,310 shares of the medical equipment provider’s stock valued at $1,359,000 after purchasing an additional 1,372 shares during the period. Simplicity Wealth LLC acquired a new position in Zimmer Biomet during the 1st quarter valued at approximately $300,000. Essex Financial Services Inc. acquired a new position in Zimmer Biomet during the 1st quarter valued at approximately $211,000. Finally, Bar Harbor Wealth Management boosted its position in Zimmer Biomet by 7.9% during the 1st quarter. Bar Harbor Wealth Management now owns 28,706 shares of the medical equipment provider’s stock valued at $3,789,000 after purchasing an additional 2,100 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the firm’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 sale, the vice president now directly owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s payout ratio is currently 19.63%.

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.