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

Zimmer Biomet (NYSE:ZBH) posted 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 13.85% and a return on equity of 12.79%. The business 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 posted $1.89 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.2% on a year-over-year basis. Zimmer Biomet updated its FY24 guidance to $8.00-8.15 EPS.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded up $0.03 during mid-day trading on Thursday, hitting $119.59. 608,289 shares of the company’s stock traded hands, compared to its average volume of 1,449,174. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $147.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. The company’s 50-day moving average is $125.65 and its two-hundred day moving average is $119.91. The company has a market capitalization of $24.57 billion, a P/E ratio of 24.46, a PEG ratio of 2.21 and a beta of 1.03.

Zimmer Biomet Announces Dividend

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 $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 19.63%.

Insider Transactions at Zimmer Biomet

In related 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 transaction of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Barclays boosted their price objective on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Evercore ISI increased their price target on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Raymond James raised their price target on Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet has an average rating of “Hold” and a consensus target price of $139.39.

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.