Home Analyst Ratings Evercore ISI upgrades Zimmer Biomet Holdings Inc. to an Outperform rating...

Evercore ISI upgrades Zimmer Biomet Holdings Inc. [ZBH] to an Outperform rating with a $175 price target

‎Evercore ISI took its Zimmer Biomet Holdings Inc. [ZBH] rating to the equivalent of an Outperform ‎from ‎an In-line, and the price target to $175, in a research note dated January 04, 2021. That ‎figure ‎represents around a 13.56% premium from where the company’s shares closed on Thursday. ‎Meanwhile, ‎Needham had maintained its rating on ZBH to the earlier “Strong buy” rating, in a research ‎note ‎produced for clients December 18, 2020. In addition, there was a new coverage from Northland ‎Capital ‎on October 20, 2020. The research firm rated ZBH “a Market perform”.

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Is Zimmer Biomet Holdings Inc. ‎‎[NYSE:ZBH] a Good Buy Right Now?

It should be noted that ‎ZBH technical indicators for short, ‎intermediate as well as long term progress have placed an overall ‎average of 100% as Buy. The average ‎signal changed from 100% Buy in the last week and compares ‎with 88% Buy in the past month. Data ‎from Zimmer Biomet Holdings Inc.’s Trend Spotter indicated that ‎the signals were Strongest. The stock ‎current average is 0.87 million shares in the past 20 days and the ‎short term average signal indicates a ‎‎100% Buy. In the last 50 days, the average trading volume was ‎‎1.11 million shares while the medium ‎term average advocated for 100% Buy. The average long-term ‎signal stands at 100% Buy and the 100-‎day average volume stands at 1.0 million shares.‎‎


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ZBH Price Performance

On Wall Street, ‎Zimmer Biomet Holdings Inc. [NYSE:ZBH] finished ‎Thursday’s session up 1.23% at $154.09. The stock ‎went up to $154.48 at the same session while its ‎lowest single day price was $151.25. In the last five ‎days, it saw a rise of about 3.43%, Zimmer Biomet ‎Holdings Inc. shares gained by almost 2.95% since ‎the beginning of the year. However, the share price ‎has dropped to as low as -6.70% below its one ‎year high. On 11/09/20, the company shares recorded ‎‎$165.15, the highest single-day price it has got to ‎in the last 52-weeks and a 52-week low was seen on ‎‎03/18/20, the same year at $74.37. The company’s ‎shares have inclined by 3.28% in the past year. The ‎‎50-day SMA achieved is $145.90 while the 200-day ‎SMA is $131.20. Volume gained to 0.5 million from ‎‎0.43 million in the previous session.‎‎

ZBH Stock ‎Support And Resistance Levels

On the 24-hour scale, the immediate backing is ‎perceived around ‎‎152.07 level, and in case of violation of this particular level, it will cause more drop to ‎‎150.04 level. On ‎the upper level, 156.50 is still the key resistance. The stock may increase to the ‎subsequent resistance ‎at 155.30. The Relative Strength Index (RSI) pinned on the 14-day chart is 61.09, ‎implying a neutral ‎technical stance while the MACD stands at 3.67, meaning price will increase in the ‎next trading period. ‎Percent R indicator moved to 4.92%, implying bullish price movement. Stochastic ‎‎%K at 89.71% suggest ‎selling the stock.‎‎

What is the short interest in Zimmer Biomet Holdings Inc.?

Short interest in ‎the Zimmer ‎Biomet Holdings Inc. stock has plunged, decreasing by -0.17 million shares to total 2.19 ‎million shares ‎on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.02 million, data ‎from Yahoo ‎Finance shows. The increase of 7.76% suggests the stock saw some increased bearish ‎sentiment. The ‎stock’s days to cover (short ratio) moved to while the shorted shares account for just ‎‎1.06% of the ‎overall float for the stock.‎‎

Zimmer Biomet Holdings Inc.’s Biggest Shareholders: Who ‎Owns Zimmer Biomet Holdings Inc. ‎‎[ZBH]?

Filings by The Vanguard Group, Inc. showed that the ‎firm now holds a total of 14,919,624 ‎shares or roughly 7.20% of the outstanding ZBH shares. This means ‎their shares have reduced by -‎‎218,905 from the 14,919,624 the investor reportedly held in its prior 13-F ‎filing. With the conclusion of ‎the sale, BlackRock Fund Advisors updated stake is worth $1,643,664,016. ‎Details in the latest 13F filings ‎reveal that Massachusetts Financial Services disposed off their -1.55% ‎stake valued at $1,513,910,678 ‎while Capital Research & Management Co added theirs at ‎‎$1,462,396,130. During the last quarter, ‎Massachusetts Financial Services liquidated -159,496 of its ‎shares in Zimmer Biomet Holdings Inc. while ‎Capital Research & Management Co bought 1,150,763 ‎shares. The SSgA Funds Management, Inc.’s ‎holdings currently number 8,555,160 shares at ‎‎$1318264604.4. According to the firm’s last 13F report, T. ‎Rowe Price Associates, Inc. shares in the ‎company at filing stood at 6,524,014 shares, roughly ‎‎$972,860,968.‎‎

ZBH Earnings Forecast For The ‎Current Quarter

Zimmer Biomet Holdings Inc. [ZBH] is ‎expected to report weak earnings results ‎for the quarter ending on Dec 2020. Consensus estimates ‎give the company expected revenues of ‎‎$2.12B and an earnings per share of $2.1 for Dec 2020. ‎Looking further ahead, the company is expected ‎to report revenue of $1.92B at an EPS of $1.79 for ‎Mar 2021. The estimates represent downside of ‎‎15.20% and 40.46% in the company’s revenue and ‎earnings per share, respectively, on a year-on-year ‎basis.‎‎

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ZBH Earnings Estimates For The ‎Current ‎Year

For the financial year, Zimmer Biomet Holdings Inc. [NYSE:ZBH] is expected to bring ‎in ‎revenue of $7.05B. The returns are nearly $-930.0 million lower than the company’s actual ‎revenue ‎recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 5.62, lower ‎than that of ‎FY19 by -$2.25. Estimates put this year’s earnings growth at -28.60%, 40.40% for the next, ‎and at an ‎annual 3.92% over the next 5-year period. As for sales, forecasts are for a decrease of -‎‎11.70% in the ‎current fiscal year and a further 15.20% over the following year.‎

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