The payment of a quarterly dividend was reportedly announced by Zimmer Biomet Holdings, Inc. (NYSE: Z.B.H.), and it was made on December 15, as reported by RTT News. On Tuesday, December 27, the company that supplies medical equipment will pay its shareholders a dividend payment of USD 0.24 per share. This payment will be made to shareholders who are on record as holding those shares. This equates to an annual dividend payment of $0.96 and a dividend yield of 0.75 percent when expressed annually.
The payout ratio for Zimmer Biomet is 19.9%, which indicates that the company has a significant amount of available profit to fund its dividend payment. The experts predict that the company will be able to maintain its expected payout ratio of 13.8% and cover its annual dividend payment of $0.96 if it earns $6.94 per share in the following fiscal year. This will allow the company to cover its annual dividend payment.
NYSE: Z.B.H. started trading for the first time on Thursday for $128.24. The company’s share price is currently trading at $114.11, which is higher than its 50-day and 200-day moving averages, which are currently at $111.47. The ratio can be expressed very simply as 1.05. At this very moment, the ratio stands at 1.98. At the moment, the proportion of debt to equity stands at 0.41. The market value of the company is $26.91 billion. It has a price-to-earnings ratio of 97.15, a price-to-earnings-growth ratio of 2.37, and a beta value of 1.09. These metrics indicate that the company has adequate financial resources. There has been a fluctuation in the price of Zimmer Biomet between its all-time high of $135 and its current price of $135.05.
On November 2, the most recent quarterly earnings report for Zimmer Biomet, traded on the NYSE under the symbol Z.B.H., was made public. The medical equipment manufacturer reported earnings per share (EPS) of $1.58 for the quarter, which is $0.02 more than the consensus estimate of $1.56 among financial analysts. The estimate was based on the previous quarter’s results. The following percentages represent Zimmer Biomet’s net margin and return on equity: 3.89% and 11.92%, respectively. The revenue for the quarter came in at $1.67 billion, which is significantly higher than the expectations of $1.64 billion floating around in the market. The company had a profit per share of $1.81 during the same period the year before when the same period was compared. The company’s quarterly sales experienced a decrease of 13.2% when compared to the same quarter in the previous year’s financial year. It is anticipated by professionals in the sector that Zimmer Biomet will generate earnings of $6.84 per share this year.
Recent events have resulted in institutional investors increasing or decreasing the proportion of the company’s holdings they own. Vanguard Group Inc. increased the amount of Zimmer Biomet stock owned by 19.0% over the first three months of 2018. Following the acquisition of an additional 3,695,510 shares during the most recent fiscal quarter, Vanguard Group Inc. now holds 23,102,761 stock held by the medical equipment provider. The current price of the stock is calculated to be $2,954,843,000. Eaton Vance Management increased the proportion of Zimmer Biomet stock owned by a factor of 489 during the first three months of the year. After purchasing an additional 976,153 shares during the most recent quarter, Eaton Vance Management now owns 1,175,757 shares of the medical equipment provider’s stock, which has a value of $150,381,000. This brings the total number of shares owned by Eaton Vance Management to 1,175,757. During the first three months of 2018, Clearbridge Investments L.L.C. significantly increased the proportion of Zimmer Biomet stock it owned by purchasing an additional 209% of the company. Following the purchase of an additional 296.400 shares during the most recent quarter, Clearbridge Investments L.L.C. now owns a total of 438,116 shares of the medical equipment provider’s stock, which has a value of $56,035,000. This brings the total number of shares owned by the company to 438,116. In the first three months of 2018, Invesco Ltd. increased the amount of Zimmer Biomet stock owned by 12.7%, bringing its total ownership percentage to 100%. Invesco Ltd. now holds a total of 2,307,356 of the medical equipment provider’s shares, which have an estimated market value of $295,112,000 following the purchase of an additional 259,741 shares during the most recent quarter. In addition, during the first three months of the year, First Trust Advisors L.P. increased the number of shares of Zimmer Biomet that it held in its portfolio by 61.6%. First Trust Advisors L.P. now has 231,475 shares of the medical equipment provider’s stock, which are worth a combined total of $29,606,000 after purchasing an additional 88,206 shares during the most recent quarter. This brings First Trust Advisors L.P.’s total number of shares to 231,475. Institutional investors own the company’s stock 89.39%, and these investors have invested in the company.
About Z.B.H., several distinct research companies have each issued their statements. In a report published on November 3, the Royal Bank of Canada lowered their price objective on Zimmer Biomet shares from $128.00 down to $125.00 and downgraded their rating on the stock from “sector perform” to “sector underperform.” On Wednesday, October 12, StockNews.com came out with a research note announcing that it would be beginning coverage of shares of Zimmer Biomet. They recommended purchasing shares of the company as a whole. In a research note released on Monday, Citigroup raised its price target for Zimmer Biomet from $116.00 to $130.00 and rated the stock “neutral.” The target price had previously been set at $116.00. Barclays published a research note on Monday, October 17, announcing their company’s intention to cover Zimmer Biomet. They assigned the company an “underweight” ranking and set the stock’s price objective at $104.00. Finally, in a research note published on November 23, Wells Fargo & Company changed their rating of the company from “underweight” to “equal weight.” It increased its price target for Zimmer Biomet from $116.00 to $120.00. Three financial analysts have recommended selling the stock, fourteen have recommended holding the stock, and five have recommended buying the stock. The stock of Zimmer Biomet is assigned a “Hold” rating on Bloomberg.com, and the website projects that the stock will reach an average price of $124.79 per share.
The musculoskeletal healthcare industry has emerged as a primary focus for Zimmer Biomet Holdings, Inc.’s operations and its subsidiaries across the globe, including in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Orthopedic reconstructive products, such as knee and hip replacements, fall under S.E.T.’s purview, and the company is accountable for their conception, production, and distribution.