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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) announced a quarterly dividend on Wednesday, December 17th. Investors of record on Tuesday, December 30th will be given a dividend of 0.24 per share by the medical equipment provider on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, December 30th.

Zimmer Biomet has a dividend payout ratio of 11.5% meaning 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 Trading Up 0.7%

NYSE:ZBH traded up $0.62 during mid-day trading on Wednesday, hitting $91.53. The company had a trading volume of 2,153,763 shares, compared to its average volume of 2,072,143. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.39 and a current ratio of 2.43. Zimmer Biomet has a fifty-two week low of $85.33 and a fifty-two week high of $114.44. The firm has a market cap of $18.14 billion, a P/E ratio of 11.24, a P/E/G ratio of 2.39 and a beta of 0.61. The business’s fifty day moving average is $95.35 and its two-hundred day moving average is $96.73.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Zimmer Biomet had a return on equity of 12.85% and a net margin of 10.05%.The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.74 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, research analysts expect that Zimmer Biomet will post 8.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group cut their target price on shares of Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, November 10th. Johnson Rice set a $112.00 price objective on shares of Zimmer Biomet in a research report on Wednesday, November 5th. Rothschild & Co Redburn started coverage on Zimmer Biomet in a research note on Thursday, September 18th. They set a “buy” rating and a $130.00 price objective on the stock. Rothschild Redb raised Zimmer Biomet to a “strong-buy” rating in a research note on Thursday, September 18th. Finally, Redburn Partners set a $130.00 price target on Zimmer Biomet in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $107.50.

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.