Zimmer Biomet Holdings, Inc. (NYSE:ZBH) announced a quarterly dividend on Thursday, June 10th, RTT News reports. Investors of record on Monday, June 28th will be paid a dividend of 0.24 per share by the medical equipment provider on Friday, July 30th. This represents a $0.96 annualized dividend and a yield of 0.61%.
Zimmer Biomet has a dividend payout ratio of 19.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Zimmer Biomet to earn $8.73 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 11.0%.
Shares of NYSE:ZBH opened at $158.22 on Thursday. Zimmer Biomet has a 52 week low of $112.00 and a 52 week high of $180.36. The firm has a 50 day moving average price of $168.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.19 and a current ratio of 2.39. The stock has a market cap of $32.99 billion, a P/E ratio of 58.82, a PEG ratio of 2.42 and a beta of 1.35.
A number of equities research analysts have commented on ZBH shares. Oppenheimer increased their price objective on shares of Zimmer Biomet from $185.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, May 5th. Northland Securities raised shares of Zimmer Biomet from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a research report on Thursday, April 15th. JMP Securities increased their target price on shares of Zimmer Biomet from $180.00 to $195.00 and gave the company a “market outperform” rating in a research report on Monday, May 17th. Raymond James increased their target price on shares of Zimmer Biomet from $187.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 5th. Finally, Wells Fargo & Company increased their target price on shares of Zimmer Biomet from $176.00 to $183.00 and gave the company an “overweight” rating in a research report on Monday, March 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $179.35.
In other Zimmer Biomet news, Director Arthur J. Higgins purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 6th. The stock was purchased at an average price of $171.58 per share, for a total transaction of $171,580.00. Following the purchase, the director now directly owns 3,400 shares in the company, valued at $583,372. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate 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. The company provides orthopaedic reconstructive products, such as knee and hip replacement products; S.E.T.
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