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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders 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 yield of 0.92%. The ex-dividend date of this dividend is Monday, March 31st.

Zimmer Biomet has a dividend payout ratio of 10.8% 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 Price Performance

Shares of ZBH opened at $104.03 on Friday. Zimmer Biomet has a fifty-two week low of $97.69 and a fifty-two week high of $133.90. The firm has a 50-day simple moving average of $105.78 and a 200-day simple moving average of $107.40. 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 has a market capitalization of $20.71 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping 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 quarter in the prior year, the firm earned $2.20 earnings per share. On average, equities research analysts anticipate that Zimmer Biomet will post 8.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZBH. Wells Fargo & Company increased their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Barclays lowered their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Raymond James reduced their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. 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 company. Based on data from MarketBeat, the company presently has an average 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.