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:
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