Why Zimmer Biomet (ZBH) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Zimmer Biomet (ZBH)
Headquartered in Warsaw, IN, Zimmer Biomet is a leading musculoskeletal healthcare company that designs, manufactures and markets orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants; and related surgical products. With operations in over 25 countries, Zimmer markets products in more than 100 countries.
ZBH boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Zimmer Biomet has seen some interesting price action recently; the stock is up 2% over the past one week and up 10.4% over the past four weeks. And in the last one-year period, ZBH has lost 3.5%. As for the stock's trading volume, 1,901,848.25 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For ZBH, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $7.51 per share for 2023. ZBH boasts an average earnings surprise of 5.1%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding ZBH to their portfolios.
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Zimmer Biomet Holdings, Inc. (ZBH) : Free Stock Analysis Report
