Zimmer Biomet Holdings, Inc. Plans Quarterly Dividend of $0.24 (ZBH)
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 paid a dividend of 0.24 per share by the medical equipment provider on Friday, October 27th. This represents a $0.96 dividend on an annualized basis 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. Equities research analysts expect Zimmer Biomet Holdings to earn $8.82 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 10.9%.
Shares of Zimmer Biomet Holdings (NYSE ZBH) traded down 0.63% during trading on Monday, reaching $117.19. The company had a trading volume of 807,533 shares. The stock’s 50-day moving average price is $127.65 and its 200-day moving average price is $121.39. The company has a market capitalization of $23.65 billion, a PE ratio of 33.38 and a beta of 1.20. Zimmer Biomet Holdings has a 52 week low of $95.63 and a 52 week high of $133.49.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the firm posted $2.02 earnings per share. Zimmer Biomet Holdings’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that Zimmer Biomet Holdings will post $8.24 EPS for the current fiscal year.
Several equities research analysts have commented on the company. Zacks Investment Research lowered Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub lowered Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BMO Capital Markets boosted their price objective on Zimmer Biomet Holdings from $136.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Leerink Swann boosted their price objective on Zimmer Biomet Holdings from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $137.00 price objective on Zimmer Biomet Holdings and gave the stock a “buy” rating in a research note on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $137.76.
In other Zimmer Biomet Holdings news, VP Tony W. Collins sold 16,986 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $121.74, for a total transaction of $2,067,875.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sang Yi sold 17,731 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $124.56, for a total value of $2,208,573.36. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.
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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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