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Shares of Zimmer Have Risen Above Previous 52-Week High

Published on Wed, 05/22/2013 - 15:06
By Robert Cotter

Shares of Zimmer (NYSE:ZMH) traded today at $81.92, breaking its 52-week high. This new high was reached on below average trading volume as 701,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.

Zimmer (NYSE:ZMH) defies analysts with a current price ($81.16) 0.2% above its average consensus price target of $81.02. The stock should find initial support at its 50-day moving average (MA) of $75.80 and further support at its 200-day MA of $69.55.

In the past 52 weeks, shares of Zimmer have traded between a low of $57.46 and a high of $81.92 and are now at $81.16, which is 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.5%.

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.

By Robert Cotter
rcotter@fnno.com