10 Undervalued Wide Moat Stocks to Buy Now

6. Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Number of Hedge funds holding: 40

As disclosed with the SEC, Comerica Bank has expanded its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 36.3% during the first quarter. Following the purchase of 12,311 shares, the bank now owns 46,206 shares of the company’s stock, which is worth approximately $5,230,000.

What’s exciting about Zimmer Biomet Holdings, Inc. (NYSE:ZBH) is its strong business acceleration initiatives. Just recently, the company acquired Monogram Technologies in an attempt to enhance its total knee robotics technology. This autonomous technology would not only help the giant to compete more fiercely but also become a pioneer in offering fully automated total knee surgeries, if it successfully achieves autonomous robotics by 2027-28.

Earlier in April, Zimmer Biomet Holdings, Inc. (NYSE:ZBH) announced the completion of its Paragon 28 acquisition, valued at $1.2 billion. This strategy enabled the company to position itself in the foot and ankle orthopedic market, which is anticipated to capture a market of $5 billion.

Zimmer Biomet Holdings, Inc. (NYSE:ZBH), based in Warsaw, Indiana, is a medical technology company that was incorporated in 1927. With a mission to improve the quality of life, the company provides orthopedic reconstructive products, S.E.T. products, craniomaxillofacial and thoracic products, and bone cement.