Zimmer Biomet (NYSE:ZBH) Issues Earnings Results

Zimmer Biomet (NYSE:ZBH) issued its earnings results on Wednesday. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.01), Briefing.com reports. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $1.65 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Zimmer Biomet updated its FY 2024 guidance to 7.950-8.050 EPS and its FY24 guidance to $7.95-8.05 EPS.

Zimmer Biomet Stock Down 2.3 %

Shares of Zimmer Biomet stock traded down $2.54 on Thursday, reaching $107.27. 1,275,539 shares of the company were exchanged, compared to its average volume of 1,485,455. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.88 and a beta of 1.02. Zimmer Biomet has a one year low of $101.47 and a one year high of $133.90. The company has a 50-day moving average of $107.24 and a 200 day moving average of $111.03. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.89%. Zimmer Biomet’s payout ratio is presently 20.78%.

Wall Street Analyst Weigh In

ZBH has been the subject of several recent research reports. Truist Financial reiterated a “hold” rating and set a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Royal Bank of Canada dropped their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Evercore ISI reduced their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. TD Cowen lowered their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Finally, Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $123.94.

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.