Zacks Research Comments on Zimmer Biomet Holdings, Inc.’s FY2023 Earnings (NYSE:ZBH)

Posted by Defense World Staff on May 25th, 2023

Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) – Research analysts at Zacks Research raised their FY2023 earnings per share (EPS) estimates for shares of Zimmer Biomet in a report released on Monday, May 22nd. Zacks Research analyst U. Biswas now forecasts that the medical equipment provider will post earnings per share of $7.41 for the year, up from their prior estimate of $7.40. The consensus estimate for Zimmer Biomet’s current full-year earnings is $7.45 per share. Zacks Research also issued estimates for Zimmer Biomet’s Q4 2023 earnings at $2.05 EPS, Q1 2024 earnings at $1.92 EPS, Q2 2024 earnings at $1.87 EPS, Q3 2024 earnings at $1.85 EPS, Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $7.63 EPS, Q1 2025 earnings at $2.16 EPS and FY2025 earnings at $8.38 EPS.

Zimmer Biomet (NYSE:ZBH – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The medical equipment provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.25. Zimmer Biomet had a return on equity of 12.43% and a net margin of 6.33%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business posted $1.61 EPS. The business’s revenue was up 10.1% compared to the same quarter last year.

Several other research analysts also recently weighed in on ZBH. SpectralCast restated a “maintains” rating on shares of Zimmer Biomet in a research note on Wednesday, May 3rd. Piper Sandler raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $135.00 to $145.00 in a report on Thursday, March 9th. 22nd Century Group reissued a “maintains” rating on shares of Zimmer Biomet in a report on Thursday, May 18th. Raymond James increased their target price on Zimmer Biomet from $144.00 to $160.00 in a report on Wednesday, May 3rd. Finally, JMP Securities upped their price target on Zimmer Biomet from $145.00 to $160.00 in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $143.67.

Zimmer Biomet Stock Down 1.3 %

Shares of ZBH stock opened at $128.62 on Thursday. Zimmer Biomet has a 1-year low of $100.39 and a 1-year high of $149.25. The stock’s fifty day moving average price is $132.80 and its 200 day moving average price is $126.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.89 and a quick ratio of 0.93. The company has a market cap of $26.83 billion, a price-to-earnings ratio of 60.10, a price-to-earnings-growth ratio of 2.38 and a beta of 1.00.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, June 23rd. Zimmer Biomet’s dividend payout ratio (DPR) is 44.86%.

Insider Activity

In other news, VP Chad F. Phipps sold 23,045 shares of the stock in a transaction on Friday, March 17th. The stock was sold at an average price of $124.50, for a total value of $2,869,102.50. Following the sale, the vice president now directly owns 43,671 shares in the company, valued at $5,437,039.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.

Institutional Trading of Zimmer Biomet

Several hedge funds have recently modified their holdings of the stock. Community Bank N.A. raised its stake in shares of Zimmer Biomet by 2.2% in the first quarter. Community Bank N.A. now owns 3,714 shares of the medical equipment provider’s stock valued at $480,000 after acquiring an additional 80 shares in the last quarter. New York Life Investment Management LLC raised its stake in Zimmer Biomet by 0.3% in the first quarter. New York Life Investment Management LLC now owns 29,966 shares of the medical equipment provider’s stock valued at $3,872,000 after buying an additional 80 shares in the last quarter. Schechter Investment Advisors LLC raised its stake in Zimmer Biomet by 2.4% in the first quarter. Schechter Investment Advisors LLC now owns 3,454 shares of the medical equipment provider’s stock valued at $446,000 after buying an additional 81 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in Zimmer Biomet by 1.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 6,452 shares of the medical equipment provider’s stock valued at $823,000 after buying an additional 85 shares in the last quarter. Finally, HB Wealth Management LLC raised its stake in Zimmer Biomet by 4.0% in the fourth quarter. HB Wealth Management LLC now owns 2,371 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 92 shares in the last quarter. 87.21% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.