Zimmer Biomet (ZBH) Set to Announce Earnings on Wednesday

Zimmer Biomet (NYSE:ZBH) is scheduled to release its earnings data before the market opens on Wednesday, October 30th. Analysts expect Zimmer Biomet to post 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.Investors interested in participating in the company’s conference call can do so using this link.

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

NYSE:ZBH opened at $103.60 on Tuesday. Zimmer Biomet has a one year low of $101.47 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a market cap of $21.31 billion, a PE ratio of 22.42, a P/E/G ratio of 1.88 and a beta of 1.02. The stock has a 50 day moving average price of $107.45 and a 200 day moving average price of $111.19.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.93%. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. BTIG Research cut their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Wolfe Research assumed coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating for the company. Truist Financial reissued a “hold” rating and set a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research note on Friday, September 13th. Finally, Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average price target 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.