Zimmer Biomet (NYSE:ZBH) Issues FY24 Earnings Guidance

Zimmer Biomet (NYSE:ZBH) updated its FY24 earnings guidance on Thursday. 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 %

Shares of ZBH stock traded up $3.20 during mid-day trading on Friday, hitting $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 PE ratio of 26.33, a P/E/G ratio of 2.23 and a beta of 1.03. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $147.50. 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’s fifty day simple moving average is $125.30 and its 200-day simple moving average is $120.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. 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 the consensus estimate of $1.87 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts expect 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. Shareholders of record on Friday, March 29th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.79%. Zimmer Biomet’s payout ratio is presently 20.78%.

Analyst Upgrades and Downgrades

ZBH has been the topic of several research analyst reports. StockNews.com cut Zimmer Biomet from a strong-buy rating to a buy rating in a research note on Monday, February 19th. TheStreet raised shares of Zimmer Biomet from a c rating to a b- rating in a research note on Thursday, February 8th. Truist Financial decreased their price objective on shares of Zimmer Biomet from $137.00 to $130.00 and set a hold rating for the company in a report on Friday. Evercore ISI increased their target price on Zimmer Biomet from $125.00 to $130.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Finally, Barclays upped their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an underweight rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $135.40.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the business’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 transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is owned by corporate insiders.

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.