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

Key Points

• Zimmer Biomet Holdings, Inc. declared a quarterly dividend of $0.24 per share, payable on October 31st to shareholders of record as of September 30th, representing an annualized yield of 0.9%.
• The company reported $2.07 earnings per share for the previous quarter, exceeding estimates and reflecting a 7.0% increase in revenue year-over-year.
• An average target price of $111.44 has been set by analysts, with ratings indicating a mix of buy, hold, and sell perspectives on the stock.

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) declared a quarterly dividend on Wednesday, August 27th, RTT News reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.24 per share by the medical equipment provider on Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th.

Zimmer Biomet has a payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of Zimmer Biomet stock traded up $1.05 during trading on Monday, hitting $106.11. The stock had a trading volume of 680,071 shares, compared to its average volume of 1,636,568. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The firm has a market cap of $21.02 billion, a P/E ratio of 25.82, a PEG ratio of 2.09 and a beta of 0.68. The business has a fifty day moving average of $97.09 and a two-hundred day moving average of $99.47. Zimmer Biomet has a fifty-two week low of $89.22 and a fifty-two week high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.09. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The company's revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, sell-side analysts expect that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZBH. Garde Capital Inc. acquired a new position in Zimmer Biomet in the 1st quarter worth about $29,000. Menard Financial Group LLC bought a new stake in shares of Zimmer Biomet during the 4th quarter worth about $30,000. Washington Trust Advisors Inc. bought a new stake in shares of Zimmer Biomet during the 1st quarter worth about $30,000. Columbia River Financial Group LLC bought a new stake in Zimmer Biomet during the 1st quarter valued at approximately $30,000. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Zimmer Biomet by 83.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 149 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

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.