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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) announced a quarterly dividend on Wednesday, December 18th,RTT News reports. Stockholders of record on Monday, December 30th will be given a dividend of 0.24 per share by the medical equipment provider on Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%.

Zimmer Biomet has a dividend payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Zimmer Biomet to earn $8.58 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 11.2%.

Zimmer Biomet Price Performance

ZBH stock opened at $108.08 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $107.90 and its 200 day simple moving average is $108.55. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the company posted $1.65 earnings per share. Zimmer Biomet’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts expect that Zimmer Biomet will post 7.99 earnings per share for the current year.

Analyst Ratings Changes

ZBH has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $125.00 to $128.00 in a research report on Tuesday. Truist Financial lifted their price target on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Raymond James lowered their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. TD Cowen reduced their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $123.28.

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.