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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders 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 yield of 0.92%.

Zimmer Biomet has a payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Research 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 Down 2.3 %

Shares of ZBH stock opened at $104.89 on Thursday. Zimmer Biomet has a fifty-two week low of $97.69 and a fifty-two week high of $133.90. The stock has a market cap of $20.88 billion, a P/E ratio of 23.57, a P/E/G ratio of 1.95 and a beta of 1.02. The business has a fifty day simple moving average of $105.81 and a 200-day simple moving average of $107.42. 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 announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $2.20 earnings per share. On average, analysts forecast that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZBH shares. Barclays dropped their price objective 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. JMP Securities reiterated a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 7th. Stifel Nicolaus lifted their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $124.15.

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.