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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) announced a quarterly dividend on Wednesday, December 18th,RTT News reports. Shareholders of record on Monday, December 30th will be paid 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 yield of 0.91%.

Zimmer Biomet has a dividend payout ratio of 11.2% indicating that 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 Stock Performance

ZBH traded down $2.20 during trading hours on Wednesday, hitting $105.86. The stock had a trading volume of 1,985,611 shares, compared to its average volume of 1,490,070. The stock has a market cap of $21.07 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a 1 year low of $101.47 and a 1 year high of $133.90. The company's fifty day simple moving average is $107.90 and its 200 day simple moving average is $108.55. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the firm posted $1.65 EPS. Zimmer Biomet's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts anticipate that Zimmer Biomet will post 7.99 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ZBH. Royal Bank of Canada boosted their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Truist Financial boosted their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a "hold" rating in a research report on Wednesday. Oppenheimer dropped their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating for the company in a report on Tuesday, October 15th. Barclays dropped their price objective on Zimmer Biomet from $125.00 to $118.00 and set an "underweight" rating for the company in a report on Thursday, December 12th. Finally, Evercore ISI reduced their target price on Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and a consensus target price of $123.33.

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.