Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Zimmer Biomet Holdings Inc shares valued at $216,296 were sold by Yi Sang on Mar 07 ’24. At $126.86 per share, Yi Sang sold 1,705 shares. The insider’s holdings dropped to 18,179 shares worth approximately $2.32 million following the completion of this transaction.
Also, Phipps Chad F sold 26,156 shares, netting a total of over 3,364,126 in proceeds. Following the sale of shares at $128.62 each, the insider now holds 44,145 shares.
Before that, Jafry Syed A. had added 2,135 shares to its account. In a trade valued at $223,641, the Director bought Zimmer Biomet Holdings Inc shares for $104.75 each. Upon closing the transaction, the insider’s holdings increased to 2,135 shares, worth approximately $0.52 million.
As published in a research note from Evercore ISI on January 04, 2024, Zimmer Biomet Holdings Inc [ZBH] has been rated down from an Outperform to an In-line and the price target has been revised to $125 from $135. Analysts at ROTH MKM started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid October. As of August 28, 2023, BTIG Research has increased its “Neutral” rating to a “Buy” for ZBH. Earlier on May 03, 2023, BofA Securities upgraded its rating. Their new recommendation was “a Neutral” for ZBH stock which previously was a “an Underperform”.
Analyzing ZBH Stock Performance
During the last five days, there has been a drop of approximately -1.76%. Over the course of the year, Zimmer Biomet Holdings Inc shares have jumped approximately 4.95%. Shares of the company reached a 52-week high of $133.90 on 03/28/24 and a 52-week low of $119.13 on 02/08/24. A 50-day SMA is recorded $126.59, while a 200-day SMA reached $122.00. Nevertheless, trading volume fell to 0.82 million shares from 1.2 million shares the previous day.
Support And Resistance Levels for Zimmer Biomet Holdings Inc (ZBH)
According to the 24-hour chart, there is a support level at 126.76, which, if violated, would cause prices to drop to 125.80. In the upper region, resistance lies at 128.31. The next price resistance is at 128.90. RSI (Relative Strength Index) is 50.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.75, which suggests the price will decrease in the coming days. Percent R is at 77.06%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Zimmer Biomet Holdings Inc subject to short interest?
Stocks of Zimmer Biomet Holdings Inc saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.17 million shares to 4.73 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.9 million shares. A decline of -3.59% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.67 of the overall float, the days-to-cover ratio (short ratio) decline to 3.67.
