Synovus Financial Corp Lowers Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Synovus Financial Corp trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,698 shares of the medical equipment provider’s stock after selling 586 shares during the period. Synovus Financial Corp’s holdings in Zimmer Biomet were worth $2,081,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $25,000. Kentucky Trust Co purchased a new stake in Zimmer Biomet in the 4th quarter valued at approximately $39,000. OFI Invest Asset Management acquired a new position in Zimmer Biomet during the 4th quarter worth approximately $40,000. SRS Capital Advisors Inc. raised its stake in shares of Zimmer Biomet by 146.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock worth $51,000 after buying an additional 285 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $51,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ZBH shares. BTIG Research reiterated a “buy” rating on shares of Zimmer Biomet in a research report on Monday. Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Stifel Nicolaus upped their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Stock Down 4.7 %

Shares of ZBH opened at $97.23 on Wednesday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $97.19 and a fifty-two week high of $124.32. The company’s fifty day moving average is $106.07 and its two-hundred day moving average is $106.92. The firm has a market cap of $19.35 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the previous year, the company earned $2.20 EPS. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 0.99%. Zimmer Biomet’s payout ratio is 21.57%.

Zimmer Biomet Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.