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Zimmer Biomet Holdings (NYSE:ZBH) Stock, Option Chain

Zimmer Biomet Holdings

Zimmer Biomet designs, manufactures, and markets orthopedic reconstructive implants as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly two thirds of total revenue is derived from sales of large joints; another fourth comes from extremities, trauma, sports medicine, and related surgical products. The firm spun out its dental and spine businesses in 2022.

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Zimmer Biomet Holdings, Inc. Common Stock

Zimmer Biomet Holdings Inc

Truist Securities analyst Richard Newitter maintains Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) with a Hold and raises the price target from $117 to $118.

Price Target

Truist Securities Maintains Hold on Zimmer Biomet Holdings, Raises Price Target to $118

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>BMO Capital analyst John McNulty upgraded the rating for Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) from Market Perform to Outperform and raised the price target from $279 to $290. Ecolab shares closed at $248.40 on Monday. See how other analysts view this stock.</li>
<li>JP Morgan analyst Robbie Marcus upgraded Zimmer Biomet Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) from Neutral to Overweight and increased the price target from $125 to $128. Zimmer Biomet shares closed at $106.85 on Monday. <a href="https://www.benzinga.com/quote/ZBH/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel analyst Adam Borg upgraded the rating for Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) from Hold to Buy and raised the price target from $95 to $136. Cloudflare shares closed at $114.65 on Monday. <a href="https://www.benzinga.com/quote/NET/analyst-ratings">See how other analysts view this stock</a>.</li>
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JP Morgan analyst Robbie Marcus upgrades Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) from Neutral to Overweight and raises the price target from $125 to $128.

JP Morgan Upgrades Zimmer Biomet Holdings to Overweight, Raises Price Target to $128

Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader,&nbsp;today&nbsp;announced U.S. Food and Drug Administration (FDA) 510(k) clearance for the OsseoFit&#x2122; Stemless Shoulder System for total shoulder replacement. This innovative implant is designed to match the natural humeral (upper shoulder bone) anatomy1-3 to optimize anatomical fit while maximizing preservation of healthy bone. The OsseoFit Stemless Shoulder System expands the company's expansive total shoulder portfolio and integrates with Identity&#xAE; Humeral Heads with Versa-Dial&#xAE;&nbsp;Technology for infinite offset placement as well as the Alliance&#xAE;&nbsp;Glenoid for a broad range of glenoid options to adapt to a patient's unique anatomy.

Government

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Zimmer Biomet Gains FDA Clearance for OsseoFit Stemless Shoulder Replacement System

Barclays analyst Matt Miksic maintains Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) with a Underweight and lowers the price target from $125 to $118.

Barclays Maintains Underweight on Zimmer Biomet Holdings, Lowers Price Target to $118

Zimmer Biomet Announced US Food And Drug Administration 510(k) Clearance Of Persona Solution Porous Plasma Spray Femur, A Total Knee Implant Component Offering An Alternative For Patients With Sensitivities To Bone Cement And/or Meta

The approval is based on safety and effectiveness data from an Investigational Device Exemption (IDE) study and non-clinical testing for cementless partial knee replacement.
As part of the U.S. nationwide launch in Q1 2025, Zimmer Biomet will provide FDA-required training, focusing on the cementless surgical technique and proper patient selection.&nbsp;

Zimmer Biomet Reveals FDA Premarket Approval Application Supplement Approval For Oxford Cementless Partial Knee

Zimmer Biomet Receives CE Mark Certification For The Persona Revision Knee System

Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) underwent analysis by 21 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">11</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Zimmer Biomet Holdings and provided 12-month price targets. The average target is $121.76, accompanied by a high estimate of $145.00 and a low estimate of $107.00. This current average has decreased by 4.31% from the previous average price target of $127.24. 
<img src="https://www.benzinga.com/files/images/story/2024/1730754009_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The standing of Zimmer Biomet Holdings among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Shagun Singh</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$125.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Richard Newitter</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$117.00</td>
<td>$112.00</td>
</tr>
<tr>
<td>Larry Biegelsen</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$117.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Steven Lichtman</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$135.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Jayson Bedford</td>
<td>Raymond James</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$123.00</td>
<td>$128.00</td>
</tr>
<tr>
<td>Shagun Singh</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$120.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Ryan Zimmerman</td>
<td>BTIG</td>
<td>Lowers</td>
<td>Buy</td>
<td>$126.00</td>
<td>$134.00</td>
</tr>
<tr>
<td>Vijay Kumar</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$110.00</td>
<td>$113.00</td>
</tr>
<tr>
<td>Robbie Marcus</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$120.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Richard Newitter</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$112.00</td>
<td>$117.00</td>
</tr>
<tr>
<td>William Plovanic</td>
<td>Canaccord Genuity</td>
<td>Lowers</td>
<td>Hold</td>
<td>$115.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Joshua Jennings</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$119.00</td>
<td>$143.00</td>
</tr>
<tr>
<td>Richard Newitter</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Hold</td>
<td>$117.00</td>
<td>$117.00</td>
</tr>
<tr>
<td>Vijay Kumar</td>
<td>Evercore ISI Group</td>
<td>Maintains</td>
<td>In-Line</td>
<td>$113.00</td>
<td>$113.00</td>
</tr>
<tr>
<td>William Plovanic</td>
<td>Canaccord Genuity</td>
<td>Lowers</td>
<td>Hold</td>
<td>$120.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Shagun Singh</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$130.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Jayson Bedford</td>
<td>Raymond James</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$128.00</td>
<td>$138.00</td>
</tr>
<tr>
<td>Danielle Antalffy</td>
<td>UBS</td>
<td>Lowers</td>
<td>Sell</td>
<td>$107.00</td>
<td>$112.00</td>
</tr>
<tr>
<td>Steven Lichtman</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$145.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Vijay Kumar</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$113.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Jeff Johnson</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$145.00</td>
<td>$155.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Zimmer Biomet Holdings. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Zimmer Biomet Holdings compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Zimmer Biomet Holdings's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Zimmer Biomet Holdings's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ZBH/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Zimmer Biomet Holdings analyst ratings.</a>
<h2>Discovering Zimmer Biomet Holdings: A Closer Look</h2>
Zimmer Biomet designs, manufactures, and markets orthopedic reconstructive implants as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly two thirds of total revenue is derived from sales of large joints; another fourth comes from extremities, trauma, sports medicine, and related surgical products. The firm spun out its dental and spine businesses in 2022.
<h3>Understanding the Numbers: Zimmer Biomet Holdings's Finances</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, Zimmer Biomet Holdings showcased positive performance, achieving a revenue growth rate of 4.03% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 13.66%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Zimmer Biomet Holdings's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 1.98%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Zimmer Biomet Holdings's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 1.15%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Zimmer Biomet Holdings's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.53.
<h2>What Are Analyst Ratings?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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What 21 Analyst Ratings Have To Say About Zimmer Biomet Holdings

RBC Capital analyst Shagun Singh maintains Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) with a Outperform and raises the price target from $120 to $125.

RBC Capital Maintains Outperform on Zimmer Biomet Holdings, Raises Price Target to $125

Truist Securities analyst Richard Newitter maintains Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) with a Hold and raises the price target from $112 to $117.

Truist Securities Maintains Hold on Zimmer Biomet Holdings, Raises Price Target to $117

License Provides Exclusive Commercialization Rights for US Distribution and Certain OUS Markets Agreement expected to boost NeuroOne sales revenue and profitability
EDEN PRAIRIE, Minn., Oct. 31, 2024 (GLOBE NEWSWIRE) -- NeuroOne Medical Technologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMTC#NASDAQ">NMTC</a>) ("NeuroOne" or the "Company"), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announced the execution of an amendment to its existing distribution agreement with Zimmer Biomet that will provide Zimmer Biomet with certain exclusive rights to distribute NeuroOne's OneRF&#x2122; Ablation System for use in the brain.

Biotech

General

NMTC

NeuroOne Announces Expansion Of Existing Distribution Agreement With Zimmer Biomet For Commercialization Of OneRF Ablation System; NeuroOne Will Receive An Upfront Payment Of $3M; License Provides Exclusive Commercialization Rights For U.S. Distribution And Certain OUS Markets

Wells Fargo analyst Larry Biegelsen maintains Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) with a Equal-Weight and raises the price target from $110 to $117.

Wells Fargo Maintains Equal-Weight on Zimmer Biomet Holdings, Raises Price Target to $117

Zimmer Biomet Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) short percent of float has fallen 14.44% since its last report. The company recently reported that it has 5.75 million shares sold short, which is 3.2% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.12 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Zimmer Biomet Holdings Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730380519_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Zimmer Biomet Holdings has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Zimmer Biomet Holdings's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Zimmer Biomet Holdings's peer group average for short interest as a percentage of float is 4.32%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(ZBH) - Analyzing Zimmer Biomet Holdings's Short Interest

Needham analyst Mike Matson reiterates Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) with a Hold.

Reiteration

Needham Reiterates Hold on Zimmer Biomet Holdings

On Wednesday, Zimmer Biomet Holdings, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) reported third-quarter adjusted EPS of $1.74, up from $1.65 a year ago, in line <a href="https://www.benzinga.com/calendars/earnings">with the Street estimates.</a>
The orthopedic giant reported sales of $1.82 billion, up 4% on a reported basis (+4.1% on constant currency), beating the <a href="https://www.benzinga.com/pressreleases/24/10/n41619991/zimmer-biomet-announces-third-quarter-2024-financial-results">consensus of $1.79 billion</a>.
Knee product sales increased 5.5% to $745.1 million, and hip product sales 3.5% (+3.7% on constant currency) to $481.5 million.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40927367/zimmer-biomet-to-stop-selling-cpt-hip-implant-system-by-end-of-2024-due-to-high-fracture-risks" rel="noreferrer noopener">Zimmer Biomet To Stop Selling CPT Hip Implant System By End Of 2024 Due To High Fracture Risks</a>
Sports Medicine products generated sales of $454.2 million, up 7.3%.
&#8220;We are pleased with the strong performance we delivered in the third quarter, despite our ERP implementation challenges,&#8221; said Ivan Tornos, Zimmer Biomet&#8217;s President and Chief Executive Officer. &#8220;
Operating margin remained unchanged at around 15%.
Net profit increased from $162.8 million to $249.2 million.
Guidance: Zimmer Biomet adjusted its 2024 adjusted EPS outlook from $8.00-$8.15 to $7.95-$8.05 compared to the consensus of $7.95.
The Warsaw, Indiana-based company expects 2024 revenue growth of 3.5%-4% versus the prior guidance range of 4%-5%.
On Monday, Zimmer Biomet unveiled its plans for the broad commercial launch of the Z1 Femoral Hip System (Z1 System) for total hip arthroplasty at the 2024 annual American Association of Hip <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41570498/zimmer-biomet-to-debut-new-z1-femoral-hip-system-and-clinical-data-on-g7-acetabular-system-at-2024" rel="noreferrer noopener">and Knee Surgeons meeting</a>.
The highly-anticipated Z1 Femoral Hip System, a triple-taper femoral system, pairs with the company&#8217;s G7&nbsp;Acetabular System&nbsp;to provide surgeons with a total hip arthroplasty solution.
Price Action: ZBH stock is up 4.63% at $108.69 at last check Wednesday.
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Earnings

Guidance

Health Care

Movers

Orthopedic Implant Maker Zimmer Biomet Reports Better-Than-Expected Q3 Earnings, Updates Annual Forecasts

WIIM

Zimmer Biomet Holdings shares are trading higher after the company reported better-than-expected Q3 sales results.

Financial Guidance
The Company is updating its full-year 2024 financial guidance to reduce and narrow its previous projected ranges for revenue growth and adjusted1 diluted EPS:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="2" rowspan="1">Projected Year Ending December 31, 2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Previous Guidance</td>
<td colspan="1" rowspan="1">Updated Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2024 Reported Revenue Change</td>
<td colspan="1" rowspan="1">4.0% - 5.0%</td>
<td colspan="1" rowspan="1">3.5% - 4.0%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Foreign Currency Exchange Impact</td>
<td colspan="1" rowspan="1">(1.0)&nbsp;%</td>
<td colspan="1" rowspan="1">(0.75)&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2024 Constant Currency Revenue Change</td>
<td colspan="1" rowspan="1">5.0% - 6.0%</td>
<td colspan="1" rowspan="1">4.25% - 4.75%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted Diluted EPS(1)</td>
<td colspan="1" rowspan="1">$8.00 - $8.15</td>
<td colspan="1" rowspan="1">$7.95 - $8.05</td>
</tr>
</tbody>
</table>
</figure>

Zimmer Biomet Lowers FY24 Outlook: Adj EPS from $8.00-$8.15 to $7.95-$8.05 vs $7.95 Est, Revenue Growth Of 3.5%-4% (4%-5% Prior)

Zimmer Biomet Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) reported quarterly earnings of $1.74 per share which met the analyst consensus estimate. This is a 5.45 percent increase over earnings of $1.65 per share from the same period last year. The company reported quarterly sales of $1.824 billion which beat the analyst consensus estimate of $1.795 billion by 1.59 percent. This is a 3.99 percent increase over sales of $1.754 billion the same period last year.

Earnings Beats

Zimmer Biomet Q3 2024 Adj. EPS $1.74, Inline, Sales $1.824B Beat $1.795B Estimate

Zimmer Biomet Holdings, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zbh#NYSE">ZBH</a>) is scheduled to report third-quarter 2024 results on Oct. 30, before market open.
In the last reported quarter, the company&#39;s earnings of $2.01 beat the Zacks Consensus Estimate by 1.5%. ZBH beat on earnings in each of the trailing four quarters, the average surprise being 2.84%.
<h2>ZBH&#39;s Q3 Estimates</h2>
The Zacks Consensus Estimate for revenues is pegged at $1.81 billion, suggesting a 3.3% rise from the year-ago reported figure.
The Zacks Consensus Estimate for earnings is pinned at $1.75 per share, indicating a 6.1% improvement from the year-ago reported numbers.
<h2>Estimate Revision Trend Ahead of ZBH&#39;s Q3 Earnings</h2>
The Zacks Consensus Estimate for earnings has moved south 1.1%&nbsp; to $1.75 per share in the past 30 days.
Let&#39;s briefly look at how things might have shaped up for this MedTech major in the to-be-reported quarter.
<h2>Factors at Play</h2>
Zimmer Biomet is likely to have experienced strong growth in the&nbsp;third quarter on the back of strong performance from its business segments.
The Hip business is expected to have witnessed growth due to the company&#39;s comprehensive suite of solutions in navigation in direct anterior stems and surgical impactors.
While this business lagged&nbsp;the broader market during the second quarter due to key portfolio gaps, the company has made significant progress with new product introductions. During the same quarter, Zimmer Biomet launched the&nbsp;surgical impactor HAMMR, whose adoption has been great so far. Additionally, during the&nbsp;third-quarter, the company entered into a definitive agreement to acquire OrthoGrid Systems, Inc. The acquisition includes OrthoGrid&#39;s AI-powered, fluoroscopy-based surgical assistance platform&nbsp;Hip AI, as well as two additional FDA-cleared orthopedic applications and over 40 patents.
Outside the United States, ZBH expects to launch a second generation of hip posterior robotics. Banking on these developments, the company is expected to report a strong revenue increase within this category in the third quarter.
Within the Knees business, the company faced some challenges from a supply standpoint. These are high ASP cases.
<h2>Zimmer Biomet Holdings, Inc. Price and EPS Surprise</h2>
<div class="chart_embed"><img alt="Zimmer Biomet Holdings, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/50/1729087518.png" style="height:263px; width:544px" title="" />
Zimmer Biomet Holdings, Inc. price-eps-surprise | Zimmer Biomet Holdings, Inc. Quote
</div>
Although this business in the United States was softer than expected, the company delivered knee growth of 5% year over year in the second quarter. We expect this growth trend to have continued in the third quarter as well.&nbsp;
The company expects to launch two different ROSA for knees in the coming three to eight quarters. In addition to ROSA, Zimmer Biomet has a partnership with THINK Surgical for TMINI &mdash; a&nbsp;miniature handheld robotic system for total knee arthroplasty. TMINI was supposed to be released in the second half of 2024. These developments might have had a positive impact on the company&#39;s third-quarter top-line performance.
In the second quarter, the S.E.T business grew mid-single digits, led by key focus areas of CMFT, upper extremities and sports growing on average high-single digits. The second quarter of 2024 was the third quarter in a row to experience such growth. Every single business within S.E.T. grew for the first time in the&nbsp;second quarter. We expect this trend to have continued in the third quarter as well.
<h2>What Our Model Suggests for ZBH</h2>
Per our proven model, a stock with a positive&nbsp;Earnings ESP&nbsp;and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has a higher chance of beating estimates. This is not the case here, as you can see below.
Earnings ESP: Zimmer Biomet has an Earnings ESP of -1.65%%.
Zacks Rank: The company currently carries a Zacks Rank #4 (Strong).
<h2>Stocks Worth a Look</h2>
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this reporting cycle.
Atea Pharmaceuticals (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avir#NASDAQ">AVIR</a>) has an Earnings ESP of +13.13% and a Zacks Rank #1 at present.
The company is expected to release third-quarter 2024 results on Nov. 13. AVIR&#39;s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 5.23%.
RadNet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rdnt#NASDAQ">RDNT</a>)&nbsp;has an Earnings ESP of +20.00% and a Zacks Rank #2 at present. The company is expected to release third-quarter 2024 results on Nov. 13.
RDNT&#39;s earnings surpassed estimates in three of the trailing four quarters and broke even once, the average surprise being 98.23%. The Zacks Consensus Estimate for RadNet&#39;s third-quarter EPS is expected to increase 21.4% from the year-ago quarter&#39;s reported numbers.
TransMedics Group&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmdx#NASDAQ">TMDX</a>) has an Earnings ESP of +26.63% and a Zacks Rank #3 at present. The company is likely to release third-quarter 2024 results on Nov. 4. The Zacks Consensus Estimate for the company&#39;s third-quarter EPS implies a surge of 333.3% from the year-ago quarter&#39;s reported figure.
<a href="https://www.zacks.com/stock/news/2351618/zbh-gears-up-for-q3-earnings-what-lies-ahead-for-the-stock?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2351618">To read this article on Zacks.com click here.</a>

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