Analyst Consensus ?
ConsensusHold42 ratings
Bullish1740.5%
Neutral2252.4%
Bearish37.1%
Zimmer Biomet Holdings, Inc. · ZBH · FY2025 Q4 · Calendar Q1 2026
Zimmer Biomet pairs innovation with a disruptive salesforce shift
Zimmer Biomet enters 2026 with product and robotics momentum, but the investment case depends on executing its U.S. salesforce transformation without allowing disruption, pricing pressure, or acquisition integration costs to dilute growth.
Reported Before market openNYSEHealthcare
$17.19B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.42
Consensus $2.38
EPS surprise
+1.7%
Reported versus consensus
Reported revenue
$2.24B
Consensus $2.22B
Revenue surprise
+0.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.9%
Event window
SPY move
-0.3%
Same window
Abnormal move
+2.1%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
+2.5%
Up to 20 sessions
ZBHSPY benchmark
Ask FN2 about ZBH FY2025 Q4
Transcript, numbers and history already loaded
Why did ZBH rise 1.9% after beating EPS estimates in FY2025 Q4?What changed in ZBH's guidance and outlook in FY2025 Q4?Give me the bull and bear case for ZBH after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The narrative shifted from maintained prior guidance and broad product momentum to a lower-guidance outlook centered on the U.S. salesforce transformation. Management also emphasized buybacks and integration over new M&A.
Guidance delta
Guidance sentiment was lowered versus the prior quarter: 2026 outlook is low single-digit organic revenue growth, adjusted EPS of $8.30-$8.45, and free-cash-flow growth of 8%-10%.
Key takeaways
- Q4 organic sales growth was led by knee, hip, robotics, and international performance.
- Management made the U.S. specialized-salesforce transition central to its growth plan, while acknowledging short-term disruption.
- The innovation pipeline includes Persona and Oxford products, iodine-coated implants, and the MBOS robotic system.
- Capital allocation is shifting toward share buybacks while new M&A is paused pending integration.
Management priorities
- Complete the U.S. salesforce specialization program.
- Expand the robotics, navigation, and implant pipeline, including MBOS and iodine-coated implants.
- Prioritize operational execution, integration, and share buybacks over new M&A.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$87.7Current
$83Low
$118.98Average
$180High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Canaccord Genuity | Hold | Hold | Maintain | Aug 10, 2026 |
| Truist Securities | Hold | Hold | Maintain | Aug 7, 2026 |
| Stifel | Buy | Buy | Maintain | Aug 6, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 6, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | Aug 6, 2026 |
| BMO Capital | Market Perform | Outperform | Downgrade | Jul 9, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 6, 2026 |
| Citigroup | Neutral | Neutral | Maintain | May 28, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Apr 29, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Apr 29, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Apr 29, 2026 |
| Barclays | Underweight | Underweight | Maintain | Apr 29, 2026 |
| BTIG | Neutral | Buy | Downgrade | Mar 23, 2026 |
| Needham | Hold | Hold | Maintain | Feb 10, 2026 |
| UBS | Sell | Sell | Maintain | Jan 28, 2026 |
| Baird | Neutral | Outperform | Downgrade | Dec 16, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Aug 8, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | May 7, 2025 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | May 6, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | May 6, 2025 |
| Oppenheimer | Outperform | Outperform | Maintain | Oct 15, 2024 |
| TD Cowen | Hold | Hold | Maintain | Sep 6, 2024 |
| Piper Sandler | Neutral | Overweight | Downgrade | Jul 1, 2024 |
| Argus Research | Buy | Hold | Upgrade | May 21, 2024 |
| B of A Securities | Neutral | Underperform | Upgrade | May 3, 2023 |
| Jefferies | Hold | Underperform | Upgrade | Mar 31, 2023 |
| SVB Leerink | Outperform | Outperform | Maintain | May 4, 2022 |
| Loop Capital | Hold | Buy | Downgrade | Mar 2, 2022 |
| Deutsche Bank | Hold | Hold | Maintain | Feb 8, 2022 |
| Northland Capital Markets | Outperform | Market Perform | Upgrade | Apr 9, 2021 |
| Credit Suisse | Underperform | Underperform | Maintain | Nov 9, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | May 12, 2020 |
| Guggenheim | Neutral | Buy | Downgrade | Apr 28, 2020 |
| Argus | Buy | Hold | Upgrade | Aug 12, 2019 |
| Citi | Buy | Buy | Maintain | Aug 2, 2019 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Jul 30, 2018 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Jan 31, 2018 |
| Leerink Swann | Outperform | Outperform | Maintain | Jan 31, 2018 |
| Edward Jones | Buy | Hold | Upgrade | Nov 9, 2017 |
| PiperJaffray | Neutral | Overweight | Downgrade | Nov 2, 2017 |
| Northcoast Research | Neutral | Buy | Downgrade | Nov 8, 2016 |
| Northland Securities | Perform | Outperform | Downgrade | Jan 7, 2016 |
Named analyst price targets
Upside is calculated against the persisted current price $87.7. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Canaccord Genuity | Caitlin Cronin | $100 | $96.55 | +14.0% | Aug 10, 2026 |
| Truist Financial | Analyst unavailable | $106 | $96.62 | +20.9% | Aug 6, 2026 |
| Robert W. Baird | Analyst unavailable | $104 | $97.32 | +18.6% | Aug 6, 2026 |
| UBS | Patrick Wood | $120 | $97.06 | +36.8% | Aug 6, 2026 |
| Bernstein | Analyst unavailable | $93 | $97.53 | +6.0% | Aug 6, 2026 |
| BMO Capital | Analyst unavailable | $96 | $98.16 | +9.5% | Aug 6, 2026 |
| RBC Capital | Kendall Au | $110 | $98.16 | +25.4% | Aug 6, 2026 |
| UBS | Patrick Wood | $115 | $92.07 | +31.1% | Jul 28, 2026 |
| BMO Capital | Analyst unavailable | $95 | $87.56 | +8.3% | Jul 8, 2026 |
| Truist Financial | Analyst unavailable | $92 | $80.8 | +4.9% | Apr 29, 2026 |
| Canaccord Genuity | Analyst unavailable | $83 | $82.8 | -5.4% | Apr 29, 2026 |
| Stifel Nicolaus | Rick Wise | $105 | $82.8 | +19.7% | Apr 29, 2026 |
| Robert W. Baird | Analyst unavailable | $92 | $82.8 | +4.9% | Apr 29, 2026 |
| Barclays | Matt Miksic | $94 | $82.8 | +7.2% | Apr 29, 2026 |
| Barclays | Matt Miksic | $100 | $96.69 | +14.0% | Feb 12, 2026 |
| UBS | Analyst unavailable | $89 | $93.69 | +1.5% | Feb 11, 2026 |
| UBS | Analyst unavailable | $86 | $85.27 | -1.9% | Jan 28, 2026 |
| Bernstein | Analyst unavailable | $99 | $94.08 | +12.9% | Jan 9, 2026 |
| Goldman Sachs | David Roman | $93 | $94.08 | +6.0% | Jan 9, 2026 |
| Evercore ISI | Analyst unavailable | $120 | $90.02 | +36.8% | Jan 5, 2026 |
| Robert W. Baird | Jeff Johnson | $100 | $92.52 | +14.0% | Dec 16, 2025 |
| Stifel Nicolaus | Rick Wise | $110 | $87.91 | +25.4% | Nov 5, 2025 |
| Johnson Rice | Analyst unavailable | $112 | $88.05 | +27.7% | Nov 5, 2025 |
| Barclays | Analyst unavailable | $105 | $103.18 | +19.7% | Nov 5, 2025 |
| BTIG | Ryan Zimmerman | $122 | $94.71 | +39.1% | Oct 13, 2025 |
| RBC Capital | Analyst unavailable | $111 | $95.52 | +26.6% | Oct 10, 2025 |
| Stifel Nicolaus | Analyst unavailable | $118 | $100.36 | +34.5% | Sep 19, 2025 |
| Redburn Partners | Ed Ridley-Day | $130 | $100.21 | +48.2% | Sep 18, 2025 |
| UBS | Danielle Antalffy | $96 | $97.94 | +9.5% | Aug 8, 2025 |
| Truist Financial | Richard Newitter | $101 | $92.27 | +15.2% | May 6, 2025 |
| RBC Capital | Shagun Singh | $112 | $92.27 | +27.7% | May 6, 2025 |
| Stifel Nicolaus | Rick Wise | $115 | $90.48 | +31.1% | May 6, 2025 |
| Wells Fargo | Larry Biegelsen | $98 | $90.48 | +11.7% | May 5, 2025 |
| Truist Financial | Richard Newitter | $117 | $106.92 | +33.4% | Oct 31, 2024 |
| Oppenheimer | Steven Lichtman | $135 | $104.83 | +53.9% | Oct 15, 2024 |
| BTIG | Ryan Zimmerman | $126 | $105.69 | +43.7% | Oct 3, 2024 |
| Evercore ISI | Vijay Kumar | $110 | $107.95 | +25.4% | Oct 1, 2024 |
| Truist Financial | Richard Newitter | $112 | $105.14 | +27.7% | Sep 13, 2024 |
| Canaccord Genuity | Caitlin Cronin | $115 | $104.83 | +31.1% | Sep 10, 2024 |
| Raymond James | Jayson Bedford | $128 | $107.09 | +45.9% | Aug 8, 2024 |
| Oppenheimer | Steven Lichtman | $145 | $105.81 | +65.3% | Aug 8, 2024 |
| Stifel Nicolaus | Rick Wise | $130 | $107.5 | +48.2% | Aug 7, 2024 |
| Morgan Stanley | Drew Ranieri | $120 | $108.69 | +36.8% | Jul 15, 2024 |
| Piper Sandler | Matt O'Brien | $115 | $108.53 | +31.1% | Jul 1, 2024 |
| Piper Sandler | Matthew O\'Brien | $140 | $114.44 | +59.6% | May 31, 2024 |
| RBC Capital | Shagun Singh | $140 | $115.14 | +59.6% | May 30, 2024 |
| BTIG | Ryan Zimmerman | $139 | $116.41 | +58.5% | May 28, 2024 |
| Argus Research | David Toung | $150 | $119.05 | +71.0% | May 21, 2024 |
| Truist Financial | Analyst unavailable | $137 | $128.46 | +56.2% | Feb 6, 2023 |
| Morgan Stanley | Analyst unavailable | $140 | $128.82 | +59.6% | Feb 6, 2023 |
| RBC Capital | Analyst unavailable | $141 | $125.7 | +60.8% | Jan 9, 2023 |
| Morgan Stanley | Analyst unavailable | $135 | $126.77 | +53.9% | Jan 6, 2023 |
| Truist Financial | Analyst unavailable | $135 | $124.91 | +53.9% | Dec 20, 2022 |
| Citigroup | Analyst unavailable | $130 | $125.36 | +48.2% | Dec 12, 2022 |
| Wells Fargo | Larry Biegelsen | $124 | $115.33 | +41.4% | Nov 23, 2022 |
| Stifel Nicolaus | Analyst unavailable | $120 | $104.62 | +36.8% | Jul 18, 2022 |
| RBC Capital | Analyst unavailable | $128 | $122.2 | +45.9% | May 4, 2022 |
| Piper Sandler | Matt O'Brien | $130 | $121.37 | +48.2% | May 3, 2022 |
| Bank of America Securities | Travis Steed | $120 | $122.13 | +36.8% | Mar 3, 2022 |
| JMP Securities | David Turkaly | $145 | $116.08 | +65.3% | Feb 8, 2022 |
| RBC Capital | Shagun Singh Chadha | $125 | $116.08 | +42.5% | Feb 8, 2022 |
| Truist Financial | Samuel Brodovsky | $128 | $116.08 | +45.9% | Feb 8, 2022 |
| Canaccord Genuity | Kyle Rose | $125 | $108.13 | +42.5% | Feb 7, 2022 |
| Deutsche Bank | Pito Chickering | $121 | $108.13 | +38.0% | Feb 7, 2022 |
| Leerink Partners | Danielle Antalffy | $135 | $108.13 | +53.9% | Feb 7, 2022 |
| Piper Sandler | Matthew O'Brien | $110 | $108.13 | +25.4% | Feb 7, 2022 |
| Robert W. Baird | Jeff Johnson | $138 | $108.13 | +57.3% | Feb 7, 2022 |
| Needham | Michael Matson | $143 | $108.13 | +63.0% | Feb 7, 2022 |
| Cowen & Co. | Josh Jennings | $140 | $119.14 | +59.6% | Jan 20, 2022 |
| Motley Fool | Anders Bylund | $140 | $121.23 | +59.6% | Dec 9, 2021 |
| Jefferies | Anthony Petrone | $175 | $136.9 | +99.5% | Nov 5, 2021 |
| Guggenheim | Christopher Pasquale | $180 | $136.9 | +105.2% | Nov 5, 2021 |
| Evercore ISI | Vijay Kumar | $170 | $133.13 | +93.8% | Nov 4, 2021 |
| Oppenheimer | Steven Lichtman | $190 | $143.03 | +116.6% | Aug 4, 2021 |
Track every rating change on ZBH the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationZimmer 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. It operates through the following geographical segments: Americas, Europe Middle East and Africa, and Asia Pacific. The Americas segment consists of the U.S. and includes other North, Central and South American markets. The Europe Middle East and Africa segment includes France, Germany, Italy, Spain, and the United Kingdom. The Asia Pacific segment refers to the key markets such as Japan, China, Australia, New Zealand, Korea, Taiwan, India, Thailand, Singapore, Hong Kong, and Malaysia. The company was founded by Justin O. Zimmer in 1927 and is headquartered in Warsaw, IN.
Historical context
All ZBH earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COO The Cooper Companies, Inc. | FY2026 Q3 · Calendar Q3 2026 | +2.7% | -14.7% | CooperCompanies beats expectations as inventory reduction weighs on vision revenue |
| MDT Medtronic plc | FY2027 Q1 · Calendar Q3 2026 | +4.3% | +1.5% | Medtronic raises FY27 outlook as growth broadens across platforms |
Latest beats and misses
Who reports nextBeat on EPS
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
- MUFY2026 Q4 · September 30, 2026+5.4% EPS+0.0% move
- CCLFY2026 Q3 · September 29, 2026+5.9% EPS+13.4% move
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
Get the ZBH recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-01T16:16:09.277771+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-01T16:16:09.274994+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-01. For educational purposes only; not investment advice.