Zimmer Biomet Holdings Inc (NYSE:ZBH) announced a quarterly dividend on Thursday, June 11th, RTT News reports. Shareholders of record on Monday, June 29th will be given a dividend of 0.24 per share by the medical equipment provider on Friday, July 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.79%.
Zimmer Biomet has a dividend payout ratio of 23.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Zimmer Biomet to earn $7.68 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 12.5%.
Shares of ZBH traded down $12.99 during midday trading on Thursday, hitting $121.30. The stock had a trading volume of 1,107,207 shares, compared to its average volume of 1,668,280. The company has a 50 day simple moving average of $121.50 and a two-hundred day simple moving average of $131.93. Zimmer Biomet has a twelve month low of $74.37 and a twelve month high of $161.11. The firm has a market cap of $28.19 billion, a price-to-earnings ratio of 74.19, a price-to-earnings-growth ratio of 5.26 and a beta of 1.32. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.69 and a quick ratio of 1.03.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.17. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. Zimmer Biomet had a return on equity of 13.29% and a net margin of 4.84%. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the business posted $1.87 EPS. Analysts forecast that Zimmer Biomet will post 3.81 EPS for the current fiscal year.
A number of equities analysts recently commented on the company. Citigroup lifted their price target on Zimmer Biomet from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. SVB Leerink lifted their price target on Zimmer Biomet from $130.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Wells Fargo & Co lifted their price target on Zimmer Biomet from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. UBS Group reduced their price target on Zimmer Biomet from $180.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Evercore ISI cut Zimmer Biomet from an “outperform” rating to an “in-line” rating in a report on Sunday, April 19th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $146.72.
In other Zimmer Biomet news, CEO Bryan C. Hanson purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $113.00 per share, for a total transaction of $113,000.00. Following the completion of the transaction, the chief executive officer now owns 54,568 shares in the company, valued at $6,166,184. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sang Yi sold 3,000 shares of Zimmer Biomet stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.38, for a total transaction of $376,140.00. Following the completion of the sale, the insider now owns 2,506 shares of the company’s stock, valued at $314,202.28. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.
Zimmer Biomet Company Profile
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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