Zimmer Biomet (NYSE:ZBH – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $6.95-$7.15 for the period, compared to the consensus estimate of $6.98. The company issued revenue guidance of $7.04 billion-$7.18 billion, compared to the consensus revenue estimate of $7.00 billion. Zimmer Biomet also updated its FY23 guidance to $6.95-7.15 EPS.
Zimmer Biomet Trading Up 1.6 %
NYSE ZBH opened at $129.45 on Friday. The firm has a 50 day simple moving average of $125.21 and a 200-day simple moving average of $115.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.98. Zimmer Biomet has a one year low of $100.39 and a one year high of $135.05. The firm has a market cap of $27.17 billion, a price-to-earnings ratio of 117.68, a PEG ratio of 2.43 and a beta of 1.02.
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Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its quarterly earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.05. Zimmer Biomet had a net margin of 3.89% and a return on equity of 11.92%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The firm's quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Zimmer Biomet will post 7.01 EPS for the current fiscal year.
Zimmer Biomet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Tuesday, December 27th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, December 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 0.74%. Zimmer Biomet's payout ratio is currently 87.27%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on ZBH shares. Raymond James raised shares of Zimmer Biomet from a market perform rating to an outperform rating and set a $144.00 price objective on the stock in a report on Thursday, January 5th. Evercore ISI cut shares of Zimmer Biomet from an outperform rating to an inline rating and set a $130.00 target price on the stock. in a report on Tuesday, January 3rd. Morgan Stanley lifted their target price on shares of Zimmer Biomet from $120.00 to $135.00 and gave the company an equal weight rating in a report on Friday, January 6th. Piper Sandler lifted their target price on shares of Zimmer Biomet from $130.00 to $135.00 in a report on Friday. Finally, Wells Fargo & Company raised shares of Zimmer Biomet from an underweight rating to an equal weight rating and lifted their target price for the company from $116.00 to $124.00 in a report on Wednesday, November 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of Hold and a consensus target price of $129.05.
Institutional Investors Weigh In On Zimmer Biomet
Several institutional investors have recently made changes to their positions in the stock. Aviva PLC boosted its position in shares of Zimmer Biomet by 0.4% during the 1st 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 in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Zimmer Biomet by 19.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,212 shares of the medical equipment provider's stock worth $155,000 after buying an additional 194 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Zimmer Biomet by 0.3% in the 3rd quarter. Retirement Systems of Alabama now owns 69,691 shares of the medical equipment provider's stock worth $7,286,000 after buying an additional 213 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Zimmer Biomet by 0.4% in the 3rd quarter. Captrust Financial Advisors now owns 52,848 shares of the medical equipment provider's stock worth $5,525,000 after buying an additional 232 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Zimmer Biomet by 5.0% in the 3rd 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 in the last quarter. 87.21% of the stock is currently owned by hedge funds and other institutional investors.
Zimmer Biomet Company Profile
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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.
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