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 paid a dividend of 0.24 per share by the medical equipment provider on Friday, January 31st. This represents a $0.96 annualized dividend 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. Equities 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 Stock Performance

ZBH stock opened at $105.86 on Thursday. The firm has a market cap of $21.07 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.96 and a beta of 1.02. The stock’s 50 day simple moving average is $107.95 and its 200 day simple moving average is $108.53. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts predict that Zimmer Biomet will post 7.99 EPS for the current year.

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $125.00 to $128.00 in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Wolfe Research initiated coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating for the company. Oppenheimer cut their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Canaccord Genuity Group lowered their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus 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.