Zimmer Biomet Holdings Inc (NYSE:ZBH) announced a quarterly dividend on Tuesday, June 11th, RTT News reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.24 per share by the medical equipment provider on Wednesday, July 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, June 27th.
Zimmer Biomet has increased its dividend by an average of 63.4% annually over the last three years. Zimmer Biomet has a payout ratio of 12.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Zimmer Biomet to earn $8.31 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 11.6%.
NYSE:ZBH opened at $116.70 on Wednesday. The company has a fifty day moving average of $117.73. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.16 and a beta of 1.17. The company has a quick ratio of 0.97, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Zimmer Biomet has a twelve month low of $96.99 and a twelve month high of $134.55.
In other Zimmer Biomet news, insider Sang Yi sold 426 shares of Zimmer Biomet stock in a transaction on Friday, May 24th. The shares were sold at an average price of $114.88, for a total transaction of $48,938.88. Following the transaction, the insider now directly owns 1,457 shares of the company’s stock, valued at approximately $167,380.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.
Several research firms have recently weighed in on ZBH. Sanford C. Bernstein upgraded shares of Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price objective for the company in a research note on Tuesday, June 11th. TheStreet lowered shares of Zimmer Biomet from a “b-” rating to a “c” rating in a research note on Friday, June 7th. Cantor Fitzgerald set a $135.00 price objective on shares of Zimmer Biomet and gave the company a “buy” rating in a research note on Friday, April 26th. Needham & Company LLC raised shares of Zimmer Biomet from a “buy” rating to a “strong-buy” rating and lifted their price target for the company from $146.00 to $155.00 in a research report on Wednesday, April 24th. Finally, Barclays lifted their price target on shares of Zimmer Biomet from $113.00 to $117.00 and gave the company an “underweight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $131.41.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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