Zimmer Biomet (ZBH) Set to Announce Earnings on Thursday

Zimmer Biomet (NYSE:ZBH) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.88 per share for the quarter. Zimmer Biomet has set its FY24 guidance at $8.00-8.15 EPS and its FY 2024 guidance at 8.000-8.150 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. Zimmer Biomet’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. On average, analysts expect Zimmer Biomet to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Zimmer Biomet Stock Down 1.2 %

ZBH stock opened at $120.28 on Wednesday. The stock has a market capitalization of $24.71 billion, a P/E ratio of 24.60, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. Zimmer Biomet has a one year low of $102.00 and a one year high of $149.25. The company has a 50 day moving average price of $125.83 and a two-hundred day moving average price of $119.92.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s payout ratio is 19.63%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ZBH shares. Raymond James boosted their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. StockNews.com cut shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Citigroup upped their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $139.39.

Insider Activity at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate 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.