Zimmer Biomet targets mid-single-digit revenue CAGR in 2024-2027

The company hosted its 2024 Investor Day and provided an in-depth review of the Company’s strategic priorities and long-range plan for growth and value creation. Zimmer Biomet provided its long-range plan for 2024 through 2027, including delivering: “Mid-single-digit percentage constant currency consolidated revenue1 compound annual growth rate, or CAGR. Adjusted EPS growth at least 1.5 times revenue growth. Free Cash Flow growing at least 100 basis points faster than adjusted EPS.” The Company also highlighted the drivers of Zimmer Biomet’s value-enhancing opportunities, including: Delivering on a new, compelling growth profile for driving above market revenue growth; Diversifying into higher growth markets to accelerate revenue in higher growth areas and increase the Company’s Weighted Average Market Growth Rate. Zimmer Biomet’s board of directors has approved a new stock repurchase authorization, granting the Company authority to repurchase up to $2 billion in common stock. Under the program, which is designed to return value to Zimmer Biomet’s shareholders, minimize dilution from stock issuances, and reduce share count over time, the Company may repurchase shares in the open market and enter into structured repurchase agreements with third parties.”