Post-earnings recap
Reported
Tue, Apr 28, 2026
EPS actual
$2.09
EPS est.
$1.86
EPS surprise
+12.55%
1-day move
-10.57%
Zimmer Biomet's strong EPS performance indicates better-than-expected profitability, which likely contributed to the stock's 1.46% increase. However, the lack of revenue data and guidance leaves some uncertainty about future performance. Investors may be encouraged by management's focus on product demand and operational improvements despite supply chain issues.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $2.09 | $1.86 | +12.55% |
| Revenue | N/A | $2.1B | N/A |
Overall, management expressed cautious optimism about future growth driven by product innovation. They acknowledged some supply chain challenges but are committed to addressing them.
Management highlighted strong demand in key product categories.
They noted ongoing challenges in supply chain but remain focused on operational improvements.
Zimmer Biomet Holdings, Inc. is a leading company in the health care sector, specializing in medical devices and equipment for musculoskeletal health. With a market cap of $18 billion, it plays a crucial role in providing innovative solutions for orthopedic surgeries and rehabilitation, which is increasingly important as the global population ages and requires more medical care.
Last quarter
In Q4 2025, Zimmer Biomet reported an EPS of $2.42, slightly beating expectations. The stock reacted positively, gaining 1.86% the following day.
Management promises and guidance
EPS beat streak
7Q
EPS beat rate
88%
Avg EPS surprise
+3.08%
Avg 1-day reaction
-3.06%
Analysts are generally optimistic about Zimmer Biomet's upcoming earnings, expecting solid performance in both EPS and revenue. The company has a strong history of beating earnings estimates, which could lead to positive market reactions.
Bull case
If Zimmer Biomet exceeds EPS expectations and shows strong revenue growth, it could signal robust demand for its products, leading to a significant stock price increase.
Bear case
Conversely, if the company misses its EPS or revenue targets, it may raise concerns about market demand and operational challenges, resulting in a negative stock reaction.
Key metrics to watch
EPS
$1.86Earnings per share is a key indicator of the company's profitability and is closely watched by investors.
Revenue
$2.1BTotal revenue gives insight into the company's overall sales performance and market demand for its products.
The print will turn on these.
Q1
Will the EPS exceed the consensus estimate of $1.86?
A beat on EPS could reinforce confidence in the company's profitability and growth potential, positively impacting the stock.
Q2
What revenue figures will the company report, especially in light of market demand?
Revenue performance is crucial for understanding sales trends and market acceptance of Zimmer Biomet's products.
—
Est. EPS
$1.52
Est. Rev
$3.6B
Impl. Move
±39.2%
Why consensus could be wrong
The Street may underestimate the impact of emerging market growth on Zimmer Biomet's revenue, which could lead to stronger-than-expected results.
Supporting evidence
The company has a strong track record of beating EPS estimates, with an 88% beat rate over the last eight quarters.
Recent trends in the orthopedic market suggest increasing demand for innovative solutions, which could boost sales.
The options market is pricing a larger move than historical averages, indicating potential volatility that the consensus may not fully account for.
Key risk
If revenue growth significantly outpaces expectations due to strong demand in emerging markets, it could challenge the current consensus.
Pre-commit to what would confirm each case.
This quarter's performance is critical as it will reflect the company's ability to navigate market challenges and capitalize on growth opportunities.
Bull confirmed if
An EPS of $1.90 or higher, along with revenue exceeding $2.1B, would confirm strong demand and operational efficiency.
Bear confirmed if
An EPS below $1.84 or revenue falling short of $2.0B would indicate potential challenges in the business.
What the market is pricing for the move.
Implied Move
±7.32%
Historical Avg
±7.6%
The options market is pricing in a significant potential move in either direction, indicating uncertainty about the upcoming earnings report.
Options are pricing ±7.5% while ZBH has averaged ±7.6% over the last 8 prints — setup is roughly in line with history.
ATM IV
0.4%
30d HV
23.6%
Smart-money positioning from the most recent 13F filings.
Institutional
111.39%
of float
Insider
0.16%
of float
Holders
1,278
institutions
Top Holders· as of Jun 2026
Dodge & Cox Inc.
24,124,735 sh · $2.1B
12.65%
2.5%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Zimmer Biomet beats expectations, history suggests a potential stock increase of around 3.1%, confirming positive market sentiment.
In line / cautious
If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.
Miss
Should the company miss its targets, history indicates a potential drop of about 5.7%, raising concerns about future performance.
The lines on the call that would change the story.
Blackrock Inc.
15,614,847 sh · $1.4B
8.19%
1.8%
Harris Associates L.P.
12,738,025 sh · $1.1B
6.68%
-1.7%
Vanguard Capital Management LLC
12,634,937 sh · $1.1B
6.62%
-1.2%
Capital International Investors
12,183,614 sh · $1.1B
6.39%
33.6%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.