Zimmer Biomet (NYSE:ZBH) Issues Earnings Results

Zimmer Biomet (NYSE:ZBH) announced its quarterly earnings results on Wednesday. The medical equipment provider reported $1.74 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.01), Briefing.com reports. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm 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 company earned $1.65 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Zimmer Biomet updated its FY 2024 guidance to 7.950-8.050 EPS and its FY24 guidance to $7.95-8.05 EPS.

Zimmer Biomet Trading Up 0.3 %

NYSE ZBH opened at $107.27 on Friday. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63. Zimmer Biomet has a 12 month low of $101.47 and a 12 month high of $133.90. The company’s fifty day moving average price is $106.96 and its two-hundred day moving average price is $110.89.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 yield of 0.89%. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

Analyst Ratings Changes

Several research analysts recently commented on ZBH shares. Canaccord Genuity Group cut their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, September 10th. Truist Financial raised their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday. Evercore ISI reduced their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Oppenheimer lowered their price target on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Finally, Wells Fargo & Company boosted their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.84.

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.