Benzinga | Aug 5, 2020 03:10PM EDT

Why Zimmer Biomet's Stock Is Trading Higher Today

Zimmer Biomet Holdings (NYSE:ZBH) shares are trading higher on Wednesday after analysts at several firms raised their price targets on the stock. The company on Tuesday reported second-quarter results.

Zimmer Biomet designs, manufactures and markets orthopedic reconstructive implants, as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly 60% of total revenue is derived from sales of large joints, another 22% comes from extremities and trauma; the remaining portion is primarily related to spine and dental products.

Zimmer Biomet shares were trading up 2.81% to $134.31 at time of publication on Wednesday. The stock has a 52-week high of $161.11 and a 52-week low of $74.37.