Zimmer Biomet Holdings, Inc. (NYSE:ZBH) closed September 25 at $114.37, down -14.32% or $19.12 from its record high price of $133.49. Looking at the other side of the coin, ZBH traded as low as $95.63 in the past 52 weeks, and since then the shares have risen 19.6% or $18.74. The recent price momentum makes it one stock to watch in recent days. Its -0.03% depreciation from Friday’s close has set alarm bells ringing.Is Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Performing Well?
Zimmer Biomet Holdings, Inc. (ZBH) shares are down -1.66% for the week and that has got investors and traders sitting up and taking note. ZBH is already driving a -10.88% loss over the course of the past year and is now up 10.82% since this point in 2017. Speaking of monthly performance, ZBH tapped a 1.35% gain. Also, the equity price plunged -11.38% % in three months, taking the six-month decrease to -4.92% as of recent close. With that said, researchers took a deep dive into the hotly debated question: is it too early to buy Zimmer Biomet Holdings, Inc. (NYSE:ZBH).Zimmer Biomet Holdings, Inc. (ZBH) Soon To Be A $27.11B Company
Analyst research firms are expressing bullish stance on Zimmer Biomet Holdings, Inc. (NYSE:ZBH)’s near-term growth potential. They anticipate the ZBH stock will hit $135.65 on a short term (12 month) basis. Their average price target spell out an upbeat performance – a 19% and would give ZBH a market capitalization of nearly $27.11B.Zimmer Biomet Holdings, Inc. Current Recommendations
Valued currently at $114.37, the vast majority of Wall Street analysts continue to say it’s a hold. Mean recommendation is rated on a 1 to 5 scale. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. The Mean Recommendation is the average rating on a stock by the analyst community.Is ZBH Technically Strong Enough?
Right now, ZBH’s beta is 1.2. That makes it 0.2 more volatile than the broad market. Zimmer Biomet Holdings, Inc. (NYSE:ZBH) is -3.09% below its 200-day moving average, providing a measure of resistance for long positions. On a similar note, the stock is -2.98% below its 50-day moving average, providing a measure of support for short positions. The average daily volatility for the week was at 1.95%, which was 0.56 higher than that in the past month.Zimmer Biomet Holdings, Inc. (ZBH) In Neutral Territory
From another technical standpoint, Zimmer Biomet Holdings, Inc. (NYSE:ZBH)’s 14-day Relative Strength Index (RSI) has reached 42.13, putting it inside a neutral zone. If the RSI is traveling up and it is between 40 and 80, it is probably an indication of an uptrend. If it moves beyond 70 but cannot hold this ground and instead falls below 70, it could be an indication that the market is overbought and prone to become bearish, at least in the short term. Conversely, if the RSI is traveling down and it is between 60 and 20, it is probably an indication of a downtrend. If it moves below 30 and fails to remain below, it could be an indication that the market is oversold and poised to become bullish, at least in the short term.How Active Are Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares?
Technical analysts also use volume to predict trends. The current trading volume of 1.39 sits 6.47% lower than the past 3 month’s readings, indicating near-term traders have been less active toward ZBH than usual of late. The company trades on average around 148000 shares per market session. Major moves in volume can signal unusual activity, such as insider trading. Unusual volume can be a major signal that investment gurus and momentum traders are piling into a stock ahead of a catalyst. These types of traders like to get in well ahead of a large spike, so it’s always a smart move to monitor unusual volume. In terms of relative volume, these shares are trading at 1.06x their normal volume.