Zimmer Biomet Holdings, Inc. (NYSE:ZBH) to Issue $0.24 Quarterly Dividend

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) announced a quarterly dividend on Thursday, August 29th, RTT News reports. Shareholders 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 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, September 30th.

Zimmer Biomet has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of ZBH opened at $108.22 on Friday. The stock has a 50-day simple moving average of $109.65 and a 200-day simple moving average of $114.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $133.90. The stock has a market capitalization of $22.26 billion, a PE ratio of 23.42, a PEG ratio of 1.97 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Zimmer Biomet will post 8.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on ZBH shares. Oppenheimer dropped their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Morgan Stanley lowered their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. Finally, Wolfe Research began coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus 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.