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Recent Insider Activity Suggests Potential Gains for Zimmer Biomet Holdings Inc (ZBH)

Zimmer Biomet Holdings Inc’s recently made public that its Group President, Asia Pacific Yi Sang unloaded Company’s shares for reported $1.47 million on May 31 ’24. In the deal valued at $114.69 per share,12,857 shares were sold. As a result of this transaction, Yi Sang now holds 5,322 shares worth roughly $0.57 million.

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Then, Yi Sang sold 1,705 shares, generating $216,296 in total proceeds. Upon selling the shares at $126.86, the Group President, Asia Pacific now owns 18,179 shares.

Before that, Phipps Chad F sold 26,156 shares. Zimmer Biomet Holdings Inc shares valued at $3,364,126 were divested by the Sr. VP/Gen Counsel/Secretary at a price of $128.62 per share. As a result of the transaction, Phipps Chad F now holds 44,145 shares, worth roughly $4.76 million.

Goldman initiated its Zimmer Biomet Holdings Inc [ZBH] rating to a Neutral in a research note published on May 30, 2024; the price target was $129. A number of analysts have revised their coverage, including Argus’s analysts, who increased its forecast for the stock in late May from “a Hold” to “a Buy”. Evercore ISI also remained covering ZBH and has decreased its forecast on January 04, 2024 with a “an In-line” recommendation from previously “an Outperform” rating. ROTH MKM started covering the stock on October 20, 2023. It rated ZBH as “a Neutral”.

Price Performance Review of ZBH

On Friday, Zimmer Biomet Holdings Inc [NYSE:ZBH] saw its stock jump 1.52% to $107.86. Over the last five days, the stock has gained 0.83%. Zimmer Biomet Holdings Inc shares have fallen nearly -11.37% since the year began. Nevertheless, the stocks have fallen -24.52% over the past one year. While a 52-week high of $147.50 was reached on 03/28/24, a 52-week low of $102.00 was recorded on 06/20/24. SMA at 50 days reached $117.16, while 200 days put it at $118.35. A total of 3.32 million shares were traded, compared to the trading of 1.89 million shares in the previous session.

Levels Of Support And Resistance For ZBH Stock

The 24-hour chart illustrates a support level at 106.55, which if violated will result in even more drops to 105.25. On the upside, there is a resistance level at 108.61. A further resistance level may holdings at 109.37. The Relative Strength Index (RSI) on the 14-day chart is 30.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.25%. Stochastics %K at 13.22% indicates the stock is a buying.

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