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Zimmer (ZMH) Approaches New Downside Target of $74.37

Published on Wed, 01/30/2013 - 10:39
By Robert Cotter

Shares of Zimmer (NYSE:ZMH) have bearishly opened below the pivot of $75.40 today and have reached the first support level of $74.90. Analysts will be watching for a cross of the next downside pivot targets of $74.37 and $73.34.

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) is currently priced 2.2% above its average consensus analyst price target of $73.10. The stock should discover initial support at its 50-day moving average (MA) of $68.53 and subsequent support at its 200-day MA of $64.32.

In the past 52 weeks, shares of Zimmer have traded between a low of $57.46 and a high of $75.91 and are now at $74.75, which is 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.3%.

By Robert Cotter