Zimmer Biomet Holdings (ZBH) : Traders are bullish on Zimmer Biomet Holdings (ZBH) as it has outperformed the S&P 500 by a wide margin of 5.14% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.42%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.35% in the last 1 week, and is up 8.67% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.75% and the 50-Day Moving Average is 8.28%. Zimmer Biomet Holdings, Inc. is up 13.51% in the last 3-month period. Year-to-Date the stock performance stands at 28.38%.
Zimmer Biomet Holdings (NYSE:ZBH): stock turned positive on Friday. Though the stock opened at $127.47, the bulls momentum made the stock top out at $131.33 level for the day. The stock recorded a low of $127.455 and closed the trading day at $131.14, in the green by 2.88%. The total traded volume for the day was 1,958,481. The stock had closed at $127.47 in the previous days trading.
Also, Barclays maintains its rating on Zimmer Biomet Holdings (NYSE:ZBH). The global brokerage major raises the current price target from $135 per share to $140 per share. Analysts at the Barclays have a current rating of Overweight on the shares. The rating by the firm was issued on July 29, 2016.
Zimmer Biomet Holdings, Inc., formerly Zimmer Holdings, Inc. is a musculoskeletal healthcare company. The Company designs, manufactures and markets orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products. The Company manages its operations through three geographic segments: the Americas, comprising principally of the United States and includes other North, Central and South American markets; Europe, comprising principally of Europe and includes the Middle East and African markets; and Asia Pacific, comprising primarily of Japan and includes other Asian and Pacific markets. The Company markets and sells products through three channels: direct to healthcare institutions, such as hospitals or direct channel accounts; through stocking distributors and healthcare dealers, and directly to dental practices and dental laboratories.