Zimmer Biomet Holdings Inc (NYSE:ZBH) declared a quarterly dividend on Thursday, June 14th, RTT News reports. Stockholders of record on Friday, June 29th will be paid a dividend of 0.24 per share by the medical equipment provider on Tuesday, July 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.84%.
Zimmer Biomet has a payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Zimmer Biomet to earn $8.02 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 12.0%.
Zimmer Biomet stock traded up $0.90 during midday trading on Thursday, reaching $114.88. 1,060,060 shares of the company’s stock were exchanged, compared to its average volume of 1,262,241. Zimmer Biomet has a 52 week low of $104.28 and a 52 week high of $133.49. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.07 and a current ratio of 1.69. The stock has a market capitalization of $23.22 billion, a P/E ratio of 14.23, a PEG ratio of 2.23 and a beta of 1.14.
In other news, VP Tony W. Collins sold 1,330 shares of Zimmer Biomet stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $116.73, for a total value of $155,250.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katarzyna Mazur-Hofsaess sold 8,765 shares of Zimmer Biomet stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $113.61, for a total transaction of $995,791.65. Following the completion of the sale, the insider now owns 25,447 shares of the company’s stock, valued at $2,891,033.67. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.
ZBH has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on Zimmer Biomet from $150.00 to $148.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Citigroup reduced their price target on Zimmer Biomet from $132.00 to $121.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Raymond James initiated coverage on Zimmer Biomet in a report on Thursday, March 15th. They set an “outperform” rating and a $135.00 price target for the company. Oppenheimer initiated coverage on Zimmer Biomet in a report on Thursday, March 15th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Robert W. Baird cut Zimmer Biomet from an “outperform” rating to a “neutral” rating in a report on Friday, March 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Zimmer Biomet presently has a consensus rating of “Buy” and an average target price of $137.71.
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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