FX.co ★ Zimmer Biomet To Repurchase Up To $2 Bln Of Common Stock

Zimmer Biomet Holdings Inc. (ZBH) has announced that its board has approved a new stock repurchase program, authorizing the company to buy back up to $2 billion in common stock.

During its 2024 Investor Day event, Zimmer Biomet unveiled its strategic plan for 2024 through 2027. Key objectives include achieving a mid-single-digit percentage growth rate in constant currency consolidated revenue on a compound annual growth rate (CAGR) basis, growing adjusted earnings per share (EPS) at least 1.5 times faster than revenue, and increasing free cash flow by at least 100 basis points more than the growth in adjusted EPS.

Additionally, Zimmer Biomet disclosed the formalization of a partnership with CBRE Group Inc. (CBRE) to develop and equip orthopedic ambulatory surgery centers across the United States.