Zimmer Biomet (NYSE:ZBH) Announces Earnings Results, Beats Expectations By $0.07 EPS

Zimmer Biomet (NYSE:ZBH) issued its quarterly earnings data on Thursday. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.07, RTT News reports. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted $1.89 EPS. Zimmer Biomet’s revenue for the quarter was up 3.2% on a year-over-year basis. Zimmer Biomet updated its FY24 guidance to $8.00-8.15 EPS.

Zimmer Biomet Stock Up 2.7 %

ZBH opened at $121.68 on Friday. Zimmer Biomet has a one year low of $102.00 and a one year high of $147.50. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.17 and a beta of 1.03. The business’s fifty day moving average is $125.45 and its two-hundred day moving average is $119.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 1.66.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.79%. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Analyst Ratings Changes

ZBH has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Oppenheimer boosted their target price on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Citigroup boosted their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Truist Financial reduced their target price on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $135.40.

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.