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

Synovus Financial Corp decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,284 shares of the medical equipment provider’s stock after selling 1,620 shares during the quarter. Synovus Financial Corp’s holdings in Zimmer Biomet were worth $2,190,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC grew its stake in Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 218 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Zimmer Biomet in the third quarter valued at approximately $28,000. Bangor Savings Bank purchased a new position in shares of Zimmer Biomet during the third quarter worth approximately $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet in the 2nd quarter valued at $33,000. Finally, Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $106.74 on Monday. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The business’s 50 day simple moving average is $107.69 and its 200-day simple moving average is $108.65. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 earnings per share. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZBH has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. TD Cowen lowered their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Barclays reduced their price objective on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research note on Thursday. BTIG Research lowered their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial boosted their target price on Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average price target of $122.83.

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.