Fintel reports that on August 2, 2023, Oppenheimer reiterated coverage of Zimmer Biomet Holdings (NYSE:ZBH) with a Outperform recommendation.
Analyst Price Forecast Suggests 11.62% Upside
As of August 2, 2023, the average one-year price target for Zimmer Biomet Holdings is 154.21. The forecasts range from a low of 117.16 to a high of $180.60. The average price target represents an increase of 11.62% from its latest reported closing price of 138.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Zimmer Biomet Holdings is 7,057MM, a decrease of 1.92%. The projected annual non-GAAP EPS is 7.02.
Zimmer Biomet Holdings Declares $0.24 Dividend
On May 15, 2023 the company declared a regular quarterly dividend of $0.24 per share ($0.96 annualized). Shareholders of record as of June 26, 2023 received the payment on July 31, 2023. Previously, the company paid $0.24 per share.
At the current share price of $138.15 / share, the stock's dividend yield is 0.69%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.74%, the lowest has been 0.54%, and the highest has been 1.19%. The standard deviation of yields is 0.10 (n=234).
The current dividend yield is 0.47 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.40. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 1843 funds or institutions reporting positions in Zimmer Biomet Holdings. This is an increase of 60 owner(s) or 3.37% in the last quarter. Average portfolio weight of all funds dedicated to ZBH is 0.34%, a decrease of 6.06%. Total shares owned by institutions decreased in the last three months by 1.12% to 225,519K shares. 
The put/call ratio of ZBH is 1.67, indicating a bearish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 10,432K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 11,200K shares, representing a decrease of 7.36%. The firm decreased its portfolio allocation in ZBH by 12.17% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,498K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 6,376K shares, representing an increase of 1.87%. The firm decreased its portfolio allocation in ZBH by 4.65% over the last quarter.
American Century Companies holds 5,055K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 5,135K shares, representing a decrease of 1.57%. The firm decreased its portfolio allocation in ZBH by 3.79% over the last quarter.
Invesco holds 4,946K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 3,161K shares, representing an increase of 36.08%. The firm decreased its portfolio allocation in ZBH by 86.02% over the last quarter.
Primecap Management holds 4,935K shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 4,831K shares, representing an increase of 2.10%. The firm decreased its portfolio allocation in ZBH by 1.41% over the last quarter.
Zimmer Biomet Holdings Background Information
(This description is provided by the company.)
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer Biomet is a global leader in musculoskeletal healthcare. It designs, manufactures and markets orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants; and related surgical products.
Additional reading:
- Zimmer Biomet Announces Second Quarter 2023 Financial Results
- Subsidiaries of Zimmer Biomet Holdings, Inc. As of June 30, 2023
- FIVE-YEAR REVOLVING CREDIT AGREEMENT dated as of July 7, 2023, ZIMMER BIOMET HOLDINGS, INC., THE LENDERS PARTY HERETO JPMORGAN CHASE BANK, N.A., as Administrative Agent JPMORGAN CHASE BANK, N.A., CITIBANK, N.A., MIZUHO BANK, LTD., BOFA SECURITIES, IN
- 364-DAY REVOLVING CREDIT AGREEMENT dated as of July 7, 2023, ZIMMER BIOMET HOLDINGS, INC., THE LENDERS PARTY HERETO JPMORGAN CHASE BANK, N.A., as Administrative Agent JPMORGAN CHASE BANK, N.A., CITIBANK, N.A., MIZUHO BANK, LTD., BOFA SECURITIES, INC.
- Zimmer Biomet Announces First Quarter 2023 Financial Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
