Zimmer Biomet (NYSE:ZBH – Get Free Report) 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.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on ZBH. 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 report on Thursday. TD Cowen reduced their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Raymond James lowered their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. BTIG Research cut their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Wolfe Research started coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $123.84.
Check Out Our Latest Analysis on ZBH
Zimmer Biomet Stock Up 0.3 %
Zimmer Biomet (NYSE:ZBH – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.01). Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Zimmer Biomet will post 7.97 EPS for the current fiscal year.
Zimmer Biomet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) 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.
Featured Stories
- Five stocks we like better than Zimmer Biomet
- What is Forex and How Does it Work?
- Energy Vault Soars 100%: CEO Shares Why in MarketBeat Exclusive
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- Meta’s Q3 Earnings Beat—Is This Dip a Golden Entry Opportunity?
- High Flyers: 3 Natural Gas Stocks for March 2022
- Top Nuclear Stocks Thriving on Soaring Energy Demand
Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.