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.

WARNING: “Zimmer Biomet Holdings, Inc. Plans Quarterly Dividend of $0.24 (ZBH)” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/07/zimmer-biomet-holdings-inc-plans-quarterly-dividend-of-0-24-zbh.html.

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.

Dividend History for Zimmer Biomet Holdings (NYSE:ZBH)

Receive News & Ratings for Zimmer Biomet Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.