Zimmer Biomet Holdings, Inc. (ZBH) Plans Quarterly Dividend of $0.24
Zimmer Biomet Holdings, Inc. (NYSE:ZBH) declared a quarterly dividend on Monday, August 7th, RTT News reports. Investors of record on Friday, September 22nd will be given a dividend of 0.24 per share by the medical equipment provider on Friday, October 27th. This represents a $0.96 annualized dividend and a yield of 0.82%.
Zimmer Biomet Holdings has a payout ratio of 11.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Zimmer Biomet Holdings to earn $8.94 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 10.7%.
Zimmer Biomet Holdings (ZBH) opened at 116.861 on Tuesday. Zimmer Biomet Holdings has a 52-week low of $95.63 and a 52-week high of $133.49. The company’s 50-day moving average price is $127.66 and its 200 day moving average price is $121.39. The stock has a market capitalization of $23.58 billion, a PE ratio of 33.284 and a beta of 1.20.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by $0.02. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. Zimmer Biomet Holdings’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 earnings per share. Equities analysts forecast that Zimmer Biomet Holdings will post $8.24 EPS for the current fiscal year.
ZBH has been the topic of a number of recent analyst reports. Zacks Investment Research cut Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Goldman Sachs Group, Inc. (The) initiated coverage on Zimmer Biomet Holdings in a research report on Tuesday, May 16th. They set a “sell” rating and a $92.00 price objective for the company. Canaccord Genuity restated a “buy” rating on shares of Zimmer Biomet Holdings in a research report on Friday, April 28th. Wells Fargo & Company lowered Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Finally, Morgan Stanley raised their price objective on Zimmer Biomet Holdings from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $137.76.
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In other Zimmer Biomet Holdings news, VP Tony W. Collins sold 16,986 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $121.74, for a total value of $2,067,875.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sang Yi sold 17,731 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $124.56, for a total transaction of $2,208,573.36. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.
About Zimmer Biomet Holdings
Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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