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Watch for Continued Gains in Shares of Zimmer (ZMH)

Published on Tue, 01/08/2013 - 15:14
By Peter Chu

Zimmer (NYSE:ZMH) traded at a new 52-week high today of $69.39. So far today approximately 643,000 shares have been exchanged, as compared to an average 30-day volume of 1.1 million shares.

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 (NYSE:ZMH) has potential upside of 3.6% based on a current price of $69.00 and analysts' consensus price target of $71.45. The stock should discover initial support at its 50-day moving average (MA) of $66.04 and subsequent support at its 200-day MA of $63.67.

Over the past year, Zimmer has traded in a range of $53.89 to $69.39 and is now at $69.00, 28% above that low. The 200-day and 50-day moving averages have moved 0.11% higher and 0.51% higher over the past week, respectively.

By Peter Chu
pchu@fnno.com