Zimmer Biomet (NYSE:ZBH) Issues 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.

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.

Zimmer Biomet Stock Up 0.3 %

Shares of Zimmer Biomet stock traded up $0.35 during trading hours on Friday, reaching $107.27. 1,890,997 shares of the company’s stock were exchanged, compared to its average volume of 1,491,439. The company has a current ratio of 1.36, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $107.11 and a two-hundred day moving average of $111.00. The stock has a market cap of $21.85 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.02 and a beta of 1.02. Zimmer Biomet has a fifty-two week low of $101.47 and a fifty-two week high of $133.90.

Zimmer Biomet (NYSE:ZBH) 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.