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Recent 52-Week High Exceeded in Shares of Zimmer (ZMH)

Published on Tue, 05/21/2013 - 14:27
By Peter Chu

Shares of Zimmer (NYSE:ZMH) traded today at $81.72, breaking its 52-week high. This new high was reached on below average trading volume as 635,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.

In the past 52 weeks, shares of Zimmer have traded between a low of $57.46 and a high of $81.72 and are now at $80.97, which is 41% above that low price. The 200-day and 50-day moving averages have moved 0.47% higher and 0.43% higher over the past week, respectively.

Zimmer Holdings, Inc. designs, develops, manufactures, and markets orthopaedic and dental reconstructive implants, spinal implants, trauma products and related surgical products. The Company also provides other healthcare related services. Zimmer markets its products in the United States and other countries around the world.

Zimmer has overhead space with shares priced $80.97, or 0.1% below the average consensus analyst price target of $81.02. The stock should discover initial support at its 50-day moving average (MA) of $75.69 and subsequent support at its 200-day MA of $69.44.

By Peter Chu
pchu@fnno.com