Zimmer Biomet (NYSE:ZBH) Issues FY24 Earnings Guidance

by · The Markets Daily

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wolfe Research started coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reduced their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Citigroup reduced their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Raymond James cut their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Evercore ISI reduced their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target of $123.84.

View Our Latest Analysis on ZBH

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded up $0.35 during trading hours on Friday, hitting $107.27. 1,890,997 shares of the company’s stock traded hands, compared to its average volume of 1,491,439. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.02 and a beta of 1.02. The company has a fifty day simple moving average of $106.96 and a 200-day simple moving average of $110.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $1.65 EPS. Equities research analysts anticipate that Zimmer Biomet will post 7.97 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Zimmer Biomet Company Profile

(Get Free Report)

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.

Featured Articles