Zimmer Biomet (ZBH) Set to Announce Quarterly Earnings on Wednesday

Zimmer Biomet (NYSE:ZBH) will be issuing its quarterly earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $1.76 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.Parties that are interested in participating in the company’s conference call can do so using this link.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business earned $1.82 earnings per share. Zimmer Biomet’s revenue was up 3.9% compared to the same quarter last year. 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 Price Performance

Zimmer Biomet stock opened at $102.35 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The stock has a market cap of $21.06 billion, a P/E ratio of 22.15, a PEG ratio of 1.92 and a beta of 1.02. The company has a 50-day moving average price of $107.61 and a 200 day moving average price of $111.35. 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 announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ZBH. UBS Group lowered their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group lowered their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. 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. TD Cowen lowered their price objective 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. Finally, JPMorgan Chase & Co. lowered their price objective 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. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.94.

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.