Zimmer Biomet Holdings, Inc. Announces Quarterly Dividend of $0.24 (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) declared a quarterly dividend on Wednesday, December 18th,RTT News reports. Stockholders of record on Monday, December 30th will be given a dividend of 0.24 per share by the medical equipment provider on Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%.

Zimmer Biomet has a dividend payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Zimmer Biomet to earn $8.58 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 11.2%.

Zimmer Biomet Price Performance

ZBH opened at $105.86 on Thursday. Zimmer Biomet has a 1 year low of $101.47 and a 1 year high of $133.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The company’s 50 day simple moving average is $107.95 and its 200 day simple moving average is $108.53. The stock has a market capitalization of $21.07 billion, a PE ratio of 20.13, a P/E/G ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. Zimmer Biomet’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. As a group, sell-side analysts expect that Zimmer Biomet will post 7.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ZBH shares. Oppenheimer dropped their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Raymond James cut their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Royal Bank of Canada lifted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price target for the company from $125.00 to $128.00 in a report on Tuesday. Finally, Truist Financial boosted their price objective on Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $123.33.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.