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

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 paid a dividend of 0.24 per share by the medical equipment provider on Wednesday, April 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%.

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 Down 2.3 %

Shares of ZBH opened at $104.89 on Thursday. The stock has a market capitalization of $20.88 billion, a PE ratio of 23.57, a P/E/G ratio of 1.95 and a beta of 1.02. Zimmer Biomet has a 1 year low of $97.69 and a 1 year high of $133.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The company’s 50-day simple moving average is $105.81 and its 200-day simple moving average is $107.42.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $2.20 EPS. Analysts forecast that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial restated a “hold” rating and set a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price target for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Wells Fargo & Company increased their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Royal Bank of Canada dropped their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.