Zimmer Biomet To Repurchase Up To $2 Bln Of Common Stock

(RTTNews) - Zimmer Biomet Holdings Inc. (ZBH) said that its board has approved a new stock repurchase authorization, granting the company authority to repurchase up to $2 billion in common stock.

At 2024 Investor Day event, Zimmer Biomet provided its long-range plan for 2024 through 2027, including delivering Mid-single-digit percentage constant currency consolidated revenue compound annual growth rate (CAGR); Adjusted earnings per share growth at least 1.5 times revenue growth; Free Cash Flow growing at least 100 basis points faster than adjusted earnings per share.

Zimmer Biomet also announced that it has formalized a partnership with CBRE Group Inc. (CBRE) to develop and outfit orthopedic ambulatory surgery centers in the U.S.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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