Zimmer Biomet (NYSE:ZBH) Releases FY24 Earnings Guidance

Zimmer Biomet (NYSE:ZBH) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $8.00-8.15 for the period, compared to the consensus 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 mid-day trading on Friday, reaching $121.66. The company’s stock had a trading volume of 1,847,585 shares, compared to its average volume of 1,304,580. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. The business’s 50 day moving average price is $125.30 and its 200 day moving average price is $120.02. 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 12 month low of $102.00 and a 12 month high of $147.50.

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

Zimmer Biomet Announces Dividend

The company also recently disclosed 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 of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZBH. Royal Bank of Canada reaffirmed an outperform rating and set a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 9th. Barclays lifted their target price on Zimmer Biomet from $120.00 to $130.00 and gave the company an underweight rating in a research report on Monday, February 12th. Citigroup boosted their price objective 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 cut Zimmer Biomet from a strong-buy rating to a buy rating in a research report on Monday, February 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Zimmer Biomet from $115.00 to $125.00 and gave the stock a neutral rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $135.40.

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 value of $3,364,184.72. Following the transaction, the vice president now 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 can be accessed 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.