Zimmer Biomet Holdings, IncNYSE: ZBH
Health Care · Health Care Equipment
$88.18
+1.17%
Vol: 1.3M
Research Digest
Friday, June 19, 2026
Zimmer Biomet raises EPS guidance and expands buyback to $1B as CFO transition underway.
Zimmer Biomet reported Q1 2026 net sales of $2.087 billion, up 9.3% year-over-year, with diluted EPS of $1.22, up 34.1%. Management raised its 2026 adjusted EPS forecast to $8.40–$8.55, driving a 4.9% stock gain. The company expanded its share repurchase program to $1 billion for 2026, completing $250 million in Q1 alone. CFO Suketu Upadhyay departed and Paul Stellato was named Interim CFO while a permanent search is conducted. The company committed to exclusive investment in the Mobility Revolution Fund for access to AI and cartilage repair technologies. Risk: CFO uncertainty and legacy brand phase-out in U.S. Knee segment could create short-term headwinds.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Zimmer Biomet raised its 2026 share repurchase plan by $250M to up to $1B, sending shares up ~4.9%, ahead of the May 22 annual meeting.Positive▶
On May 12, 2026, Zimmer Biomet announced it now expects to repurchase up to $1 billion of common stock during fiscal 2026, a $250 million increase from its prior assumption, all under its existing $1.5B authorization. Shares jumped about 4.9% on the news. Management also presented at the Bank of America Securities 2026 Health Care Conference on May 13, and the company is preparing for its May 22 virtual annual meeting where shareholders will vote on directors, auditor PwC, executive pay, and a shareholder proposal for an independent chair. Following Q1 results (revenue $2.09B, +9.3% YoY, ~3% organic constant-currency growth, +260 bps operating margin), Truist lowered its target to $92 from $98 (Hold) and JPMorgan cut to $95 from $100 (Neutral). Risk: organic growth is still single-digit and analysts trimmed targets despite the bigger buyback.
May 20Zimmer Biomet raised 2026 share repurchase plan to $1B and presented at BofA Healthcare Conference on May 13.Mixed▶
On May 12, 2026, Zimmer Biomet announced it now anticipates repurchasing up to $1 billion of common stock during fiscal year 2026, a $250M increase from prior guidance, under its existing $1.5B authorization. Shares jumped 4.9% on the news. Management participated in the BofA Securities Health Care Conference on May 13. The annual meeting is set for May 22. Despite the buyback boost, ZBH is down 7.6% YTD and trading 22.8% below its August 2025 high, with Truist cutting its PT to $92 (Hold) and JPMorgan to $95 (Neutral). Risk: weak orthopedic demand and a discounted multiple still overhang the name.
May 19Zimmer Biomet raised FY2026 share repurchase target by $250M to up to $1B on May 12, sending shares up 4.9% intradayPositive▶
On May 12, 2026, Zimmer Biomet announced it now anticipates repurchasing up to $1 billion of common stock during FY2026, a $250M increase versus the company's prior assumption, under its existing $1.5B authorization approved in February 2026. Shares jumped 4.9% in the afternoon session on the news. Management also participated in the BofA Securities 2026 Health Care Conference on May 13. The company's annual meeting is set for May 22, 2026, with votes on 10 directors, PwC ratification, executive pay, and a shareholder proposal for an independent board chair. ZBH remains down 7.6% YTD and 22.8% below its 52-week high of $107.71, trading near $83.20. Truist (PT cut to $92 from $98, Hold) and JPMorgan (PT cut to $95 from $100, Neutral) trimmed targets in late April.
May 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 15Zimmer Biomet raises 2026 buyback to $1B and presents at BofA conference May 13; shares jumped 4.9%Positive▶
Zimmer Biomet announced it now anticipates repurchasing up to $1B of common stock in fiscal 2026, a $250M increase from prior assumption, under the existing $1.5B repurchase authorization approved February 2026. The news sent shares up 4.9% in afternoon trading. Management participated in the Bank of America Securities Health Care Conference on May 13. The May 22 virtual annual meeting will vote on electing 10 directors, ratifying PwC as auditor, advisory pay vote, and a shareholder proposal for independent board chair. Q1 revenue of $2.09B up 9.3% YoY (organic constant-currency +3%), with operating margin up 260bps and EPS guidance raised for 2026. CFO is departing. Stock traded at $102.35 on May 14. Risk: leadership transition and slowing orthopedic procedure growth.
May 14Zimmer Biomet boosted its 2026 buyback expectation to $1B on May 12, sending shares up 4.9%, and presented at the BofA Global Healthcare Conference on May 13.Positive▶
On May 12, 2026, Zimmer Biomet raised expected fiscal 2026 share repurchases to up to $1B - a $250M increase from prior guidance - under the existing $1.5B authorization approved in February 2026. Shares jumped 4.9% intraday on the news. On May 13, CEO Ivan Tornos and Interim CFO Paul Stellato presented at the BofA Securities 2026 Global Healthcare Conference, reinforcing the capital-return message and FY26 outlook. The buyback follows Q1 FY26 results showing sales of $2.087B, adjusted EPS of $2.09, and raised FY26 adjusted EPS guidance to $8.40-$8.55, though late-April analyst price targets were cut at Truist, JPMorgan, Stifel, and Canaccord on margin concerns. The stock trades around $83.20, ~23% below its August 2025 high of $107.71.
May 13Zimmer Biomet raised 2026 buyback expectations to $1B (a $250M increase) on May 12, sending shares up 4.9%.Positive▶
On May 12, 2026, Zimmer Biomet announced it now anticipates repurchasing up to $1 billion of common stock during fiscal year 2026, a $250 million increase from its prior assumption, under the existing $1.5B authorization approved in February 2026. Shares rose 4.9% in afternoon trading on the news. The buyback comes after Q1 2026 sales of $2.087B, adjusted EPS of $2.09, and a raised full-year adjusted EPS guide of $8.40-$8.55. The company also announced participation in the BofA Securities 2026 Health Care Conference on May 13. ZBH is set to hold its annual meeting May 22 where shareholders will vote on director elections, executive pay, and a shareholder proposal for an independent board chair. Risk: prior CFO exit and execution concerns continue to weigh; stock is still 22.8% below its August 2025 high of $107.71.
May 12Zimmer Biomet raised its 2026 share repurchase target to $1B, a $250M increase from prior $750M assumption.Positive▶
On May 12, 2026, Zimmer Biomet announced it now expects to repurchase up to $1 billion of common stock in fiscal 2026, a $250 million increase from its prior plan. The buybacks fall under the existing $1.5B authorization approved in February 2026. Management is also slated to present at the BofA Securities 2026 Health Care Conference on May 13. The expanded buyback signals confidence in free cash flow following Q1 beats. Bear case: the move follows a 10.6% post-Q1 selloff and multiple price-target cuts (Truist $92, JPM $95, Stifel $105), suggesting buybacks may be defensive support rather than evidence of demand recovery.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| ZBHZIMMER | $88.18 | +1.17% | +0.0% | 9.7x | 0.46 | $16.9B |
| ABTABBOTT | $88.64 | +0.16% | +0.0% | 15.8x | 0.61 | $166.2B |
| ISRGINTUITIVE | $406.90 | +1.17% | +0.0% | 36.1x | 1.46 | $150.9B |
| SYKSTRYKER | $309.23 | +2.68% | +0.0% | 19.5x | 0.78 | $125.2B |
| MDTMEDTRONIC | $79.43 | +1.64% | +0.0% | 13.0x | 0.58 | $106.5B |
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Price below 200d MA — bearish structure.