Zimmer Biomet (NYSE:ZBH) Issues FY24 Earnings Guidance

Zimmer Biomet (NYSE:ZBH) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $8.00-8.15 for the period, compared to the consensus EPS 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

A number of research firms recently weighed in on ZBH. StockNews.com lowered shares of Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. Citigroup raised their price target on Zimmer Biomet from $134.00 to $140.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. TheStreet upgraded 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 target on shares of Zimmer Biomet in a research report on Friday, February 9th. Finally, Truist Financial lowered their price target on Zimmer Biomet from $137.00 to $130.00 and set a hold rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $135.40.

Zimmer Biomet Stock Up 2.7 %

Shares of Zimmer Biomet stock traded up $3.20 during trading on Friday, hitting $121.66. 1,847,585 shares of the stock traded hands, compared to its average volume of 1,304,580. The firm has a market cap of $25.00 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. 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 has a 52-week low of $102.00 and a 52-week high of $147.50. The stock’s fifty day simple moving average is $125.30 and its 200 day simple moving average is $120.02.

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

Zimmer Biomet Announces Dividend

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

Insider Transactions at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares in the company, valued at $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.95% of the company’s stock.

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.