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.