Zimmer Biomet (NYSE:ZBH) Releases FY 2024 Earnings Guidance

Zimmer Biomet (NYSE:ZBH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 7.950-8.050 for the period, compared to the consensus earnings per share estimate of 7.950. The company issued revenue guidance of $7.7 billion-$7.7 billion, compared to the consensus revenue estimate of $7.7 billion. Zimmer Biomet also updated its FY24 guidance to $7.95-8.05 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZBH. UBS Group dropped their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Evercore ISI reduced their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Morgan Stanley dropped their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Citigroup lowered their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Canaccord Genuity Group decreased their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and an average target price of $123.84.

Zimmer Biomet Trading Up 0.3 %

Shares of ZBH stock traded up $0.35 during trading hours on Friday, reaching $107.27. 1,890,997 shares of the stock were exchanged, compared to its average volume of 1,491,439. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90. The company’s 50-day moving average price is $107.11 and its 200-day moving average price is $111.00. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.02 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. As a group, equities analysts anticipate that Zimmer Biomet will post 7.97 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

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.