Zimmer Biomet (NYSE:ZBH) Updates FY24 Earnings Guidance

Zimmer Biomet (NYSE:ZBH) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Zimmer Biomet Trading Up 2.7 %

ZBH stock traded up $3.20 during midday trading on Friday, hitting $121.66. 1,847,585 shares of the company’s stock were exchanged, compared to its average volume of 1,304,580. The stock’s fifty day moving average price is $125.30 and its 200-day moving average price is $120.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 1.66. The company has a market cap of $25.00 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. Zimmer Biomet has a one year low of $102.00 and a one year high of $147.50.

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

Zimmer Biomet Dividend Announcement

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

Wall Street Analyst Weigh In

ZBH has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a hold rating on shares of Zimmer Biomet in a research report on Thursday. Oppenheimer boosted their price target on Zimmer Biomet from $150.00 to $155.00 and gave the stock an outperform rating in a research report on Friday. Citigroup boosted 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. StockNews.com downgraded Zimmer Biomet from a strong-buy rating to a buy rating in a research report on Monday, February 19th. Finally, Truist Financial lowered 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of Hold and an average target price of $135.40.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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.