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

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 0.91%.

Zimmer Biomet has a dividend payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Zimmer Biomet stock traded down $2.07 on Wednesday, hitting $105.28. The company’s stock had a trading volume of 383,943 shares, compared to its average volume of 1,856,628. The company has a fifty day moving average price of $105.83 and a 200-day moving average price of $107.44. The firm has a market cap of $20.96 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Zimmer Biomet has a one year low of $97.69 and a one year high of $133.90. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period last year, the company posted $2.20 EPS. On average, equities analysts anticipate that Zimmer Biomet will post 8.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ZBH shares. Royal Bank of Canada lowered their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of 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, December 17th. Truist Financial restated a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Barclays reduced their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $124.15.

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.