Zimmer Biomet Stock Price, News & Analysis

Zimmer Biomet presented its long-range plan for 2024-2027 at the 2024 Investor Day, outlining strategies for sustainable growth, profitability, and improved free cash flow generation. The company targets a mid-single-digit percentage constant currency revenue CAGR, adjusted EPS growth at least 1.5 times revenue growth, and free cash flow growing at least 100 basis points faster than adjusted EPS.

Zimmer Biomet also announced a $2 billion stock repurchase program aimed at returning value to shareholders and minimizing dilution. Additionally, a strategic partnership with CBRE has been established to develop orthopedic ambulatory surgery centers (ASC) in the U.S., leveraging both companies' strengths in healthcare technology and commercial real estate.

Overall, Zimmer Biomet aims to drive above-market revenue growth, diversify into higher-growth markets, and utilize strong M&A capabilities to enhance shareholder value.

Zimmer Biomet, a global leader in medical technology, will host its 2024 Investor Day on May 29, 2024, from 1:00 p.m. to 4:30 p.m. ET at the New York Stock Exchange. Key presentations will be given by President and CEO Ivan Tornos and CFO Suky Upadhyay, covering the company's strategic and capital allocation priorities, key initiatives, and long-term financial goals. The event will also feature a surgeon panel discussion and Q&A sessions, followed by a reception and product showcase. In-person attendance requires pre-registration via the company's Investor Relations website. The event will be webcast live, with a replay and presentations available afterward.

Zimmer Biomet Holdings, a medical technology leader, announced a quarterly cash dividend of $0.24 per share for the second quarter of 2024, payable on July 31, 2024.

Zimmer Biomet Holdings, Inc. published its 2023 Sustainability Report highlighting progress in environmental goals, employee engagement, health equity, and quality management. The report showcases the company's commitment to sustainability, including achieving high employee engagement levels, reducing carbon emissions, expanding Zero Waste to Landfill initiative, and maintaining product quality programs. Zimmer Biomet aims to be a leader in responsible business practices and has a roadmap to reach Net-Zero greenhouse gas emissions by 2050.

Zimmer Biomet Holdings, Inc. reported first quarter net sales of $1.889 billion, with a 3.2% increase over the prior year. Diluted earnings per share were $0.84, adjusted diluted earnings per share were $1.94. Recent highlights include FDA clearances for innovative products and partnerships with pickleball organizations. The company reaffirmed its full-year 2024 financial guidance.