Zimmer Biomet (ZBH) Set to Announce Earnings on Thursday

Zimmer Biomet (NYSE:ZBH) is scheduled to release its earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.88 per share for the quarter. Zimmer Biomet has set its FY24 guidance at $8.00-8.15 EPS and its FY 2024 guidance at 8.000-8.150 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.05. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. On average, analysts expect Zimmer Biomet to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $120.28 on Wednesday. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $149.25. The firm has a market cap of $24.71 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 2.19 and a beta of 1.01. The firm’s 50-day simple moving average is $125.83 and its two-hundred day simple moving average is $119.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.80%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 19.63%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ZBH shares. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Truist Financial raised their price target on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a report on Friday, February 9th. StockNews.com downgraded shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. JPMorgan Chase & Co. raised their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Raymond James raised their price objective on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $139.39.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

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.