Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) - Investment analysts at Zacks Research dropped their Q1 2024 earnings estimates for Zimmer Biomet in a report released on Tuesday, April 2nd. Zacks Research analyst U. Biswas now expects that the medical equipment provider will post earnings per share of $1.86 for the quarter, down from their previous forecast of $1.89. 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 Q2 2024 earnings at $2.00 EPS, FY2024 earnings at $8.01 EPS, Q2 2025 earnings at $2.16 EPS and FY2026 earnings at $9.20 EPS.
Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share.
A number of other research firms also recently weighed in on ZBH. StockNews.com downgraded shares of Zimmer Biomet from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 19th. Royal Bank of Canada restated an "outperform" rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 9th. Barclays boosted their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an "underweight" rating in a research note on Monday, February 12th. Canaccord Genuity Group restated a "hold" rating and issued a $130.00 target price on shares of Zimmer Biomet in a research note on Friday, February 23rd. Finally, Evercore ISI boosted their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an "in-line" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of "Hold" and a consensus price target of $139.39.
Read Our Latest Report on Zimmer Biomet
Zimmer Biomet Stock Down 1.9 %
Shares of ZBH stock traded down $2.45 during trading on Thursday, hitting $127.56. 1,027,868 shares of the company were exchanged, compared to its average volume of 1,531,713. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. The firm has a market capitalization of $26.21 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 2.36 and a beta of 1.01. The business's 50-day simple moving average is $126.28 and its 200 day simple moving average is $118.44. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $149.25.
Zimmer Biomet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.75%. Zimmer Biomet's dividend payout ratio is currently 19.63%.
Insiders Place Their Bets
In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.95% of the company's stock.
Institutional Trading of Zimmer Biomet
A number of institutional investors and hedge funds have recently modified their holdings of ZBH. Dodge & Cox increased its stake in shares of Zimmer Biomet by 137.7% in the 4th quarter. Dodge & Cox now owns 11,474,535 shares of the medical equipment provider's stock valued at $1,396,451,000 after acquiring an additional 6,647,810 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Zimmer Biomet by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider's stock valued at $2,954,843,000 after acquiring an additional 3,695,510 shares during the last quarter. Norges Bank bought a new stake in Zimmer Biomet during the 4th quarter worth approximately $266,896,000. Moneta Group Investment Advisors LLC increased its stake in Zimmer Biomet by 92,041.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,841,898 shares of the medical equipment provider's stock worth $234,842,000 after purchasing an additional 1,839,899 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Zimmer Biomet by 18.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,426,866 shares of the medical equipment provider's stock worth $1,147,251,000 after purchasing an additional 1,458,359 shares in the last quarter. 88.89% of the stock is owned by institutional investors.
Zimmer Biomet Company Profile
(
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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.
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