These Analysts Slash Their Forecasts On Zimmer Biomet Following Q1 Results

Benzinga04-29

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) reported upbeat earnings for the first quarter on Tuesday.

The company posted first-quarter adjusted earnings of $2.09 per share, up 15.5% year over year, beating the Street estimates of $1.86.

The orthopedic implant maker reported sales of $2.087 billion, up 9.3% on a reported basis, up 6.8% on a constant currency basis, and 2.9% on an organic constant currency basis, beating the consensus of $2.07 billion.

"We are off to a solid start to the year — strategically, operationally, and financially," said Ivan Tornos, Chairman, President, and CEO of Zimmer Biomet.

Zimmer Biomet raised fiscal adjusted earnings guidance from $8.30-$8.45 per share to $8.40-$8.55 per share, compared to the consensus of $8.40.

The company reaffirms 2026 sales guidance of $8.44 billion-$8.60 billion versus the consensus of $8.56 billion.

Zimmer Biomet shares fell 2.6% to trade at $80.65 on Wednesday.

These analysts made changes to their price targets on Zimmer Biomet following earnings announcement.

  • Stifel analyst Rick Wise maintained Zimmer Biomet with a Buy and lowered the price target from $110 to $105.
  • Truist Securities analyst Richard Newitter reiterated the stock with a Hold and lowered the price target from $98 to $92.
  • Barclays analyst Matt Miksic maintained Zimmer Biomet with an Underweight rating and lowered the price target from $100 to $94.
  • Wells Fargo analyst Larry Biegelsen maintained the stock with an Equal-Weight rating and cut the price target from $98 to $90.

Considering buying ZBH stock? Here’s what analysts think:

Photo via Shutterstock

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment