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Why Has Zimmer Biomet Holdings Inc. (NYSE: ZBH) Inclined So Much?

Zimmer Biomet Holdings Inc. (NYSE:ZBH) traded at $116.91 at last check on Wednesday, November 23, made an upward move of 1.37% on its previous day’s price.

Looking at the stock we see that its previous close was $115.33 and the beta (5Y monthly) reads 1.08 with the day’s price range being $113.26 – $115.46. The company has a trailing 12-month PE ratio of 71.77. In terms of its 52-week price range, ZBH has a high of $135.05 and a low of $100.39. The company’s stock has gained about 5.78% over that past 30 days.

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Zimmer Biomet Holdings Inc. has a market cap of $23.78 billion and is expected to release its quarterly earnings report on Feb 06, 2023 – Feb 10, 2023. With its Forward Dividend at 0.96 and a yield of 0.83%, the company’s investors could be anxious for the ZBH stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $1.83, with the EPS growth for the year raised at $6.84 for 2022 and $6.95 for next year. These figures represent -7.20% and 1.60% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $1.76 billion, with a low of $1.73 billion and a high of $1.81 billion. The median projection represents growth adding up to -13.60% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $6.87 billion, or -12.30% down from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the ZBH stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 25% Sell. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 28 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 17 have rated the Zimmer Biomet Holdings Inc. (ZBH) stock as a Hold, while 6 rate it as a Buy. 1 analyst(s) rate it as overweight while 2 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the ZBH stock currently stands at 10.25, and the most recent price level today is 4.97% off its SMA20 and 6.26% from its 50-day simple moving average. The RSI (14) is pointing at 61.00 while the volatility over the past week is 1.61% and jumps to 2.41% over the past one month. The beta value is 1.09, while the average true range (ATR) is currently pointing at 2.97. The average price target for the stock over the next 12 months is $122.73, with the estimates having a low of $100.00 and a high of $145.00. These price ends are 14.46% and -24.03% off the today’s price level respectively, although investors could be excited at the prospect of a -3.07% if the ZBH share price touches on the median price of $120.50.

Let’s briefly compare Zimmer Biomet Holdings Inc. (ZBH) stock to its peers. We find that today’s price change of 1.37% and -8.71% over the past 12 months for ZBH competes that of Johnson & Johnson (JNJ), which has seen its stock price fall -0.25% in the latest trading session and is 10.72% over the last one year. Another of its peers Medtronic plc (MDT) has gained 0.97% today, and was -33.33% down over the past year, while Stryker Corporation (SYK) is also up 0.83% yet, while its price remains in the red at -12.98% over the same period. Zimmer Biomet Holdings Inc. has a P/E ratio of 71.77 compared to Johnson & Johnson’s 24.62 and Medtronic plc’s 20.15. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.55% and 0.28%, respectively, in early deals.

Coming back to Zimmer Biomet Holdings Inc. (NYSE:ZBH), we note that the average 3-month trading volume was 1.11 million, while that of the preceding 10-day period stands at 1.05 million. Current shares outstanding are 209.80 million.

The insiders hold 0.07% of the company’s shares while institutions hold 92.00%. The data shows that short shares as of Oct 30, 2022, stood at 2.71 million at a short ratio of 2.54. This represents a 1.29% short interest in shares outstanding on Oct 30, 2022. Shares short rose in October from the previous month at 2.68 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -6.42% down in year-to-date price movement.

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