Zimmer Biomet (NYSE:ZBH) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Zimmer Biomet (NYSE:ZBH) issued its quarterly earnings data on Thursday. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07, RTT News reports. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business earned $1.89 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Zimmer Biomet updated its FY24 guidance to $8.00-8.15 EPS.

Zimmer Biomet Stock Up 2.7 %

ZBH stock opened at $121.66 on Friday. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $147.50. The business has a fifty day moving average price of $125.30 and a 200-day moving average price of $120.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.78. The stock has a market capitalization of $25.00 billion, a P/E ratio of 26.33, a P/E/G ratio of 2.23 and a beta of 1.03.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Insider Transactions at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays lifted their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Evercore ISI lifted their price target on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Truist Financial dropped their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Canaccord Genuity Group restated a “hold” rating and set a $130.00 price target on shares of Zimmer Biomet in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $135.40.

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.