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”.
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.
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.
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.