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

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) announced a quarterly dividend on Wednesday, August 27th, RTT News reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.24 per share by the medical equipment provider on Friday, October 31st. This represents a c) annualized dividend and a yield of 0.9%.

Zimmer Biomet has a payout ratio of 11.5% meaning 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 Stock Performance

Zimmer Biomet stock traded down $0.60 during trading hours on Wednesday, hitting $106.94. 89,540 shares of the stock traded hands, compared to its average volume of 2,038,239. 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's 50 day moving average price is $96.17 and its 200-day moving average price is $99.34. The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 2.11 and a beta of 0.68. Zimmer Biomet has a 1 year low of $89.22 and a 1 year high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results 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. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the business earned $2.01 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities analysts expect that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Morgan Stanley lowered their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group lowered their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Truist Financial set a $101.00 target price on Zimmer Biomet in a research note on Tuesday, May 6th. Finally, UBS Group upped their target price on Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research note on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $111.44.

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.

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