Zimmer Biomet Holdings, Inc. (ZBH) to Issue Quarterly Dividend of $0.24 on April 30th

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.24 per share by the medical equipment provider on Wednesday, April 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st.

Zimmer Biomet has a dividend payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Zimmer Biomet to earn $8.87 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 10.8%.

Zimmer Biomet Stock Up 0.1 %

NYSE:ZBH opened at $112.21 on Friday. The stock has a 50-day simple moving average of $107.18 and a 200 day simple moving average of $107.01. Zimmer Biomet has a 52-week low of $97.69 and a 52-week high of $131.61. The company has a market cap of $22.34 billion, a PE ratio of 25.22, a PEG ratio of 1.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the previous year, the company posted $2.20 earnings per share. On average, sell-side analysts expect that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of recent research reports. Truist Financial restated a “hold” rating and set a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Barclays reduced their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Raymond James lowered their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Stifel Nicolaus increased their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and an average target price of $124.15.

Insiders Place Their Bets

In other news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Zimmer Biomet

A hedge fund recently bought a new stake in Zimmer Biomet stock. Brighton Jones LLC purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,936 shares of the medical equipment provider’s stock, valued at approximately $204,000. 88.89% of the stock is owned by institutional investors.

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.