Zimmer Biomet (NYSE:ZBH – Get Rating) announced its earnings results on Friday. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.83 by $0.05, Briefing.com reports. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. Zimmer Biomet had a return on equity of 11.92% and a net margin of 3.89%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 EPS. Zimmer Biomet updated its FY 2023 guidance to $6.95-$7.15 EPS and its FY23 guidance to $6.95-7.15 EPS.

Zimmer Biomet Trading Up 1.6 %

Shares of ZBH traded up $2.04 during mid-day trading on Friday, hitting $129.45. The company had a trading volume of 2,854,132 shares, compared to its average volume of 1,754,061. The business's 50-day simple moving average is $125.21 and its 200-day simple moving average is $115.79. The company has a quick ratio of 1.05, a current ratio of 1.98 and a debt-to-equity ratio of 0.41. Zimmer Biomet has a 1-year low of $100.39 and a 1-year high of $135.05. The stock has a market cap of $27.17 billion, a PE ratio of 117.68, a P/E/G ratio of 2.43 and a beta of 1.02.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Tuesday, December 27th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, December 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.74%. Zimmer Biomet's dividend payout ratio (DPR) is presently 87.27%.

Analyst Ratings Changes

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZBH. Aviva PLC raised its holdings in shares of Zimmer Biomet by 0.4% during the first quarter. Aviva PLC now owns 30,636 shares of the medical equipment provider's stock worth $3,918,000 after purchasing an additional 137 shares during the period. Parkside Financial Bank & Trust lifted its stake in Zimmer Biomet by 19.1% during the first quarter. Parkside Financial Bank & Trust now owns 1,212 shares of the medical equipment provider's stock valued at $155,000 after buying an additional 194 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Zimmer Biomet by 0.3% in the third quarter. Retirement Systems of Alabama now owns 69,691 shares of the medical equipment provider's stock worth $7,286,000 after purchasing an additional 213 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Zimmer Biomet by 0.4% in the third quarter. Captrust Financial Advisors now owns 52,848 shares of the medical equipment provider's stock worth $5,525,000 after purchasing an additional 232 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Zimmer Biomet by 5.0% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,519 shares of the medical equipment provider's stock worth $786,000 after buying an additional 359 shares during the last quarter. 87.21% of the stock is owned by institutional investors and hedge funds.

About Zimmer Biomet

(Get Rating)

Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.

Featured Articles

• Get a free copy of the StockNews.com research report on Zimmer Biomet (ZBH)
• MarketBeat Week in Review – 1/30 – 2/3
• Are Penny Stocks Worth it? Should You Invest in Penny Stocks?
• Zimmer Biomet Beats on Earnings, Growth May be Priced In
• AI Software Maker EPAM Boasts Biggest Tech-Sector Rally
• Ford Stock Going Forward After Big Earnings Flop

Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.