Zimmer Biomet (NYSE:ZBH) Issues FY24 Earnings Guidance

Zimmer Biomet (NYSE:ZBH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.95-8.05 for the period, compared to the consensus estimate of $7.96. Zimmer Biomet also updated its FY 2024 guidance to 7.950-8.050 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial lifted their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research note on Friday. Citigroup decreased their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Canaccord Genuity Group cut their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. BTIG Research decreased their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.84.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $107.27 on Friday. Zimmer Biomet has a 12 month low of $101.47 and a 12 month high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63. The firm has a market capitalization of $21.35 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business’s fifty day moving average price is $106.96 and its 200 day moving average price is $110.89.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.01). The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. On average, sell-side analysts anticipate that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s payout ratio is 18.25%.

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.