Zimmer Biomet (NYSE:ZBH) Updates FY24 Earnings Guidance

Zimmer Biomet (NYSE:ZBH) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $8.00-8.15 for the period, compared to the consensus estimate of $8.06. The company issued revenue guidance of $7.73-7.80 billion, compared to the consensus revenue estimate of $7.75 billion.

Analyst Ratings Changes

ZBH has been the topic of several research analyst reports. TheStreet raised shares of Zimmer Biomet from a c rating to a b- rating in a research report on Thursday, February 8th. Royal Bank of Canada restated an outperform rating and issued a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 9th. Oppenheimer boosted their target price on Zimmer Biomet from $150.00 to $155.00 and gave the stock an outperform rating in a report on Friday. Needham & Company LLC reaffirmed a hold rating on shares of Zimmer Biomet in a research report on Thursday. Finally, Truist Financial dropped their price objective on shares of Zimmer Biomet from $137.00 to $130.00 and set a hold rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $135.40.

Zimmer Biomet Stock Performance

Zimmer Biomet stock traded up $3.20 during mid-day trading on Friday, reaching $121.66. The company’s stock had a trading volume of 1,847,585 shares, compared to its average volume of 1,304,580. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.23 and a beta of 1.03. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $147.50. The business has a 50 day moving average price of $125.30 and a 200-day moving average price of $120.02. The company has a current ratio of 1.66, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Zimmer Biomet will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is owned by company insiders.

Zimmer Biomet Company Profile

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.