Zimmer Biomet (NYSE:ZBH) Posts Earnings Results, Meets Expectations

Zimmer Biomet (NYSE:ZBH) issued its quarterly earnings results on Wednesday. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74, Briefing.com reports. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. 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 %

Zimmer Biomet stock opened at $107.27 on Friday. The firm has a 50 day simple moving average of $106.96 and a 200-day simple moving average of $110.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63. The stock has a market capitalization of $21.35 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ZBH. Morgan Stanley dropped their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. TD Cowen lowered their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Truist Financial boosted 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. JPMorgan Chase & Co. lowered their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, BTIG Research lowered their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $123.84.

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.