What Just Happened To Zimmer Biomet Stock?
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Zimmer Biomet (ZBH) stock rose 13.5% on Wednesday, November 4, 2026, while the S&P 500 gained 1.6%. The rise occurred the day the company reported its third-quarter results and raised its 2026 outlook. Every company on the peer list advanced that session as well, including Stryker by 9.4%. So what did Zimmer Biomet report, and how far did it lift its outlook?
Zimmer Biomet Topped Estimates And Raised Its Outlook
Zimmer Biomet posted third-quarter revenue of $2.06 billion, finishing above the analysts’ estimate. Adjusted earnings per share remained flat from a year earlier at $1.90, just above the $1.88 estimate. Under standard accounting rules, earnings per share fell to $1.00 from $1.16. Management attributed this decline to spending on its sales force overhaul, acquisition-related adjustments and higher manufacturing costs.
Management raised its forecasts for the year. The company now expects 2026 reported sales to grow 4.4% to 4.9%, up from 3.9% to 4.9%. The forecast for adjusted earnings per share rose to between $8.50 and $8.60, up from $8.47 to $8.59.
The hip business grew 7% at constant currency, while knee sales fell 2.6% on the same basis. Management said the U.S. knee results reflected its sales force transition and a highly competitive knee implant market, adding that knee sales abroad faced pressure mostly from China.
Did Zimmer Biomet Rise Alone?
No. Health care stocks bounced on the midterm election results that day, and the health care sector fund, XLV, gained 3.1%. Enovis, another of Zimmer Biomet’s listed peers, rose 16.9%.
Zimmer Biomet’s gain was far larger than the sector fund’s, outpacing every company on its peer list except Enovis.
Where Does Zimmer Biomet Stock Stand Now?
Zimmer Biomet stock now sits at its highest close of the past year, $110.15 on November 4, and no trading session in that span had brought a rise this large. The last move of this size in either direction was a 15.1% fall on November 5, 2025.
The stock recorded its lowest close of the past year at $79.58 on May 11, 2026. Measured from May 6, a few days before that low, shares returned 33.7% through November 4, against 5.0% for the S&P 500. Over the full year to November 4, the stock returned 7.9%, behind the S&P 500’s 14.9%.
Management said it expects knee sales to improve, but would not say in which quarter. Zimmer Biomet is expected to report its fourth-quarter 2026 results in February 2027, and knee sales growth is the measure to watch.
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