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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) announced a quarterly dividend on Friday, May 30th, RTT News reports. Shareholders of record on Thursday, June 26th will be paid a dividend of 0.24 per share by the medical equipment provider on Thursday, July 31st. This represents a $0.96 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, June 26th.

Zimmer Biomet has a payout ratio of 11.5% indicating that 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 Stock Up 1.2%

ZBH traded up $1.11 during midday trading on Tuesday, reaching $92.22. 512,661 shares of the company were exchanged, compared to its average volume of 1,794,537. 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's fifty day moving average price is $99.60 and its 200 day moving average price is $104.59. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. Zimmer Biomet has a one year low of $89.39 and a one year high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. As a group, analysts expect that Zimmer Biomet will post 8.22 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Lori Winkler sold 1,443 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.39% of the company's stock.

Hedge Funds Weigh In On Zimmer Biomet

An institutional investor recently bought a new position in Zimmer Biomet stock. Brighton Jones LLC purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,936 shares of the medical equipment provider's stock, valued at approximately $204,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZBH has been the topic of a number of research analyst reports. JMP Securities cut their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley cut 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. Raymond James cut their target price on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group cut 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. Finally, Robert W. Baird cut their target price on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $111.53.

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.