Zimmer Biomet (NYSE:ZBH) Updates FY 2024 Earnings Guidance

Zimmer Biomet (NYSE:ZBH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 8.000-8.150 for the period, compared to the consensus earnings per share estimate of 8.090. The company issued revenue guidance of $7.7 billion-$7.8 billion, compared to the consensus revenue estimate of $7.8 billion. Zimmer Biomet also updated its FY24 guidance to $8.00-8.15 EPS.

Analyst Ratings Changes

Several brokerages have recently commented on ZBH. The Goldman Sachs Group began coverage on Zimmer Biomet in a report on Thursday, May 30th. They set a neutral rating and a $129.00 target price for the company. Citigroup reduced their price objective on Zimmer Biomet from $134.00 to $120.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Needham & Company LLC reissued a hold rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. Morgan Stanley reduced their price objective on 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. Finally, Piper Sandler downgraded Zimmer Biomet from an overweight rating to a neutral rating and reduced their price objective for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $129.81.

Zimmer Biomet Trading Down 0.9 %

Shares of ZBH stock traded down $0.96 on Wednesday, reaching $108.61. The company had a trading volume of 1,579,538 shares, compared to its average volume of 1,490,488. The company has a 50-day moving average of $109.42 and a 200-day moving average of $118.88. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $133.90. The stock has a market cap of $22.34 billion, a PE ratio of 23.36, a PEG ratio of 1.99 and a beta of 1.01. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. Zimmer Biomet’s dividend payout ratio is 20.78%.

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.