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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) declared a quarterly dividend on Friday, May 30th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 1.04%.

Zimmer Biomet has a dividend payout ratio of 11.5% indicating that 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 Trading Down 1.3%

ZBH stock traded down $1.22 during trading on Friday, reaching $92.12. The company had a trading volume of 3,505,131 shares, compared to its average volume of 1,800,204. Zimmer Biomet has a 52 week low of $89.92 and a 52 week high of $116.71. The company has a market cap of $18.23 billion, a P/E ratio of 20.70, a PEG ratio of 1.95 and a beta of 0.78. The business has a 50 day moving average of $99.99 and a 200 day moving average of $104.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business's revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 earnings per share. As a group, sell-side analysts forecast that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ZBH shares. The Goldman Sachs Group cut their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Finally, Raymond James reduced their price target on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Zimmer Biomet has an average rating of "Hold" and an average price target of $111.53.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares of the company's stock, valued at $915,379.20. The trade was a 14.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zimmer Biomet

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

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.