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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) 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% indicating that 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 Price Performance

ZBH traded up $0.27 on Friday, hitting $104.32. 2,813,620 shares of the company were exchanged, compared to its average volume of 1,900,642. 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 business's fifty day moving average is $105.72 and its 200 day moving average is $107.37. Zimmer Biomet has a fifty-two week low of $97.69 and a fifty-two week high of $133.90. The firm has a market capitalization of $20.77 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating the consensus estimate 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 period last year, the firm earned $2.20 EPS. As a group, sell-side analysts anticipate that Zimmer Biomet will post 8.22 EPS for the current year.

Analyst Upgrades and Downgrades

ZBH has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Barclays lowered their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research report on Monday, February 10th. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Royal Bank of Canada reduced their price objective 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, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $125.00 to $128.00 in a research note 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 company's stock. According to MarketBeat.com, Zimmer Biomet 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.