Zimmer Biomet (NYSE:ZBH) Posts Quarterly Earnings Results

Zimmer Biomet (NYSE:ZBHGet Free Report) announced its quarterly earnings data on Thursday. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05, Briefing.com reports. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Zimmer Biomet updated its FY24 guidance to $8.00-8.15 EPS and its FY 2024 guidance to 8.000-8.150 EPS.

Zimmer Biomet Trading Down 0.2 %

Zimmer Biomet stock opened at $122.80 on Friday. The firm has a 50 day simple moving average of $121.39 and a 200-day simple moving average of $117.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.99. The stock has a market capitalization of $25.66 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $149.25.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, December 27th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, December 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 19.63%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZBH. Roth Mkm began coverage on shares of Zimmer Biomet in a report on Friday, October 20th. They set a “neutral” rating and a $120.00 target price on the stock. JMP Securities reduced their target price on shares of Zimmer Biomet from $160.00 to $140.00 and set a “market outperform” rating on the stock in a report on Monday, November 13th. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday. Raymond James boosted 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. Finally, Evercore ISI lowered shares of Zimmer Biomet from an “outperform” rating to an “inline” rating and cut their price objective for the stock from $135.00 to $125.00 in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $138.11.

Get Our Latest Report on ZBH

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its stake in Zimmer Biomet by 70.5% during the third quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. United Bank lifted its stake in Zimmer Biomet by 3.0% during the third quarter. United Bank now owns 9,796 shares of the medical equipment provider’s stock valued at $1,099,000 after purchasing an additional 281 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Zimmer Biomet by 30.5% during the second quarter. Osaic Holdings Inc. now owns 48,920 shares of the medical equipment provider’s stock valued at $7,122,000 after purchasing an additional 11,422 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Zimmer Biomet by 9.0% during the second quarter. Nuveen Asset Management LLC now owns 1,304,808 shares of the medical equipment provider’s stock valued at $189,980,000 after purchasing an additional 108,238 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Zimmer Biomet by 14.9% during the second quarter. Sunbelt Securities Inc. now owns 816 shares of the medical equipment provider’s stock valued at $119,000 after purchasing an additional 106 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors.

Zimmer Biomet Company Profile

(Get Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.

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Earnings History for Zimmer Biomet (NYSE:ZBH)

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