M&T Bank Corp Raises Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

M&T Bank Corp grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 48.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,719 shares of the medical equipment provider's stock after buying an additional 8,709 shares during the period. M&T Bank Corp's holdings in Zimmer Biomet were worth $2,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ZBH. Dunhill Financial LLC raised 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 acquiring an additional 218 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Zimmer Biomet during the third quarter worth about $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet during the third quarter worth about $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet in the 2nd quarter valued at about $33,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Zimmer Biomet in the 3rd quarter valued at about $35,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $0.10 during midday trading on Friday, hitting $106.74. The company had a trading volume of 1,195,338 shares, compared to its average volume of 1,361,031. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. 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 business has a 50-day simple moving average of $107.69 and a two-hundred day simple moving average of $108.70.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts' consensus estimates of $1.74. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ZBH. Raymond James cut their price target on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada lifted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Monday, November 4th. TD Cowen decreased their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a "hold" rating for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. dropped their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Finally, Wells Fargo & Company increased their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.