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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) declared a quarterly dividend on Thursday, August 29th, RTT News reports. Investors of record on Monday, September 30th will be paid a dividend of 0.24 per share by the medical equipment provider on Thursday, October 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th.

Zimmer Biomet has a payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Zimmer Biomet to earn $8.63 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 11.1%.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $108.22 on Friday. The stock has a market capitalization of $22.26 billion, a P/E ratio of 23.42, a PEG ratio of 1.97 and a beta of 1.02. The business has a 50 day simple moving average of $109.65 and a two-hundred day simple moving average of $114.77. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $1.82 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts predict that Zimmer Biomet will post 8.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZBH has been the topic of several recent research reports. Wolfe Research began coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $140.00 to $115.00 in a research note on Monday, July 1st. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Tuesday, September 17th. Finally, Robert W. Baird reduced their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and an average target price of $125.17.

About Zimmer Biomet

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.