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 (EPS) guidance of 7.950-8.050 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup lowered their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Raymond James cut their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Wells Fargo & Company increased their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Thursday. 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.84.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $0.35 during trading on Friday, hitting $107.27. 1,890,997 shares of the stock were exchanged, compared to its average volume of 1,491,439. The company 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 debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.36. Zimmer Biomet has a 1-year low of $101.47 and a 1-year high of $133.90. The company’s fifty day simple moving average is $107.11 and its 200-day simple moving average is $111.00.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly 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). Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts expect that Zimmer Biomet will post 7.97 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, September 30th. 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.